• EUR/JPY cross may test the immediate barrier at the fresh record high of 187.54.
• The Relative Strength Index (14) at 70.10 indicates overbought conditions.
• The primary support lies at the nine-day EMA of 185.92.

EUR/JPY halts its three-day winning streak, inching lower after reaching all-time highs and trading around 187.40 during the European hours on Tuesday. The technical analysis of the daily chart indicates the currency cross is trending higher within an ascending channel, signaling a persistent bullish bias.

The EUR/JPY cross maintains a bullish near-term bias as it holds above both the nine-day and 50-day Exponential Moving Averages (EMAs). The alignment of the short-term above the long-term EMA suggests persistent upward pressure.

The Relative Strength Index (14) at 70.10 shows overbought conditions, hinting that upside momentum is strong but vulnerable to a corrective pause.

The EUR/JPY cross may target the immediate resistance at the all-time high of 187.54, recorded on April 14, followed by the upper boundary of the ascending channel around 187.80.

On the downside, the primary support lies at the nine-day EMA of 185.92. A move below this level could weaken the short-term price momentum, exposing the lower ascending channel boundary around 185.00, followed by the 50-day EMA at 184.07.

(The technical analysis of this story was written with the help of an AI tool.)