**BREAKING: EUR/JPY Surges Past Key Technical Level in Asian Session**
The EUR/JPY currency cross extended its winning streak to three consecutive sessions Thursday morning, testing the 186.50 resistance level after breaking through the upper boundary of an ascending triangle pattern. The pair traded around 186.40 during Asian hours, maintaining strong bullish momentum above critical technical indicators including the nine-day and fifty-day exponential moving averages.
This breakout signals continued strength in the euro against the yen, with the ascending triangle formation typically indicating bullish continuation patterns in technical analysis. The sustained position above both short and medium-term EMAs reinforces positive momentum for the cross, suggesting buyers remain firmly in control. Traders focused on EUR/JPY should monitor whether the pair can establish support above the 186.50 barrier, which would likely open the door to further upside targets.
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FXnCO Insight
** Watch for confirmation of support above 186.50 as a signal to enter long positions on EUR/JPY, with stops below the triangle breakout point to manage downside risk.
Source: FXStreet