EUR/JPY traded near 186.60 during Asian hours on Wednesday, sustaining a bullish near-term outlook. The pair remained supported above its nine-period and 50-period exponential moving averages (EMAs), signaling positive momentum, according to FX Street.
This technical positioning suggests that buyers are still in control for the short term, with the pair hovering just below the 187.00 level. Maintaining levels above these EMAs often points to further upward potential in the FX market.
For Japanese investors, monitoring EUR/JPY’s momentum is crucial as it reflects broader risk sentiment and impacts cross-border investment flows between Europe and Japan.