EUR/JPY extended its losses for the second consecutive day, trading near 185.20 during European hours on Monday, according to FX Street. The pair has been unable to surpass the 185.50 level, reflecting ongoing selling pressure.
Despite the recent declines, the currency cross remains within an ascending channel pattern, which suggests a prevailing bullish bias. The nine-day exponential moving average (EMA) continues to act as a dynamic support level, helping to contain the downside.
For Japanese market participants, the movement in EUR/JPY is closely watched as it can influence export competitiveness and cross-border investment flows amid fluctuating global risk sentiment.