The EUR/JPY cross extended gains for a fourth consecutive session on Tuesday, climbing toward 185.00 during Asian trading hours after breaking decisively above its 50-day exponential moving average. The pair was trading around 184.80 as momentum builds following the technical breakthrough of this key resistance level.
This sustained rally signals strengthening bullish sentiment in the cross-currency pair, which has now established an upward trajectory that traders are watching closely. The breach of the 50-day EMA is particularly significant as it often indicates a potential trend reversal or continuation of upward momentum in technical analysis.
Currency traders and forex brokers should monitor whether the pair can hold above the 50-day EMA and maintain its advance toward the psychological 185.00 level. The move reflects relative euro strength against the Japanese yen, with implications for carry trade positioning and risk sentiment across Asian and European markets.
FXnCO Insight
Traders should watch for sustained closes above the 50-day EMA to confirm bullish momentum, with 185.00 representing the next key resistance to overcome.
Source: FXStreet