EUR/JPY extended its gains for the third consecutive day, trading around the 185.20 level during Asian hours on Monday, according to FX Street. The pair remains positioned above the 50-day exponential moving average (EMA), indicating sustained bullish momentum.
Despite the upward movement, the currency pair faces resistance from the nine-day EMA, which is currently capping further advances. This dynamic suggests a cautious market balance as traders assess near-term direction.
For Japanese market participants, the continued strength in EUR/JPY may influence cross-border trading strategies, especially given the yen's sensitivity to shifts in global risk sentiment and monetary policy expectations.