EUR/JPY Tests 185.00 After Breaking Above Moving Averages
EUR/JPY extended its gains for a second session, trading near 185.00 during Asian hours on Monday, with a constructive near-term bias as the pair holds above key exponential moving averages.
EUR/JPY continued its upward momentum, testing the 185.00 level during Monday’s Asian trading session. The currency cross has posted gains for two consecutive sessions.
The pair maintains a constructive near-term outlook after moving above both the nine-period and 50-period exponential moving averages. This technical development suggests strengthening bullish momentum in the short run.
Traders will monitor whether EUR/JPY can sustain above 185.00, as a decisive break could open the door for further upside. Key support levels to watch include the moving averages and the 184.00 area.
Source: FXStreet Forex News