• EUR/JPY is challenging immediate resistance at the 50-day EMA of 184.86.
• The 14-day Relative Strength Index around 47 indicates momentum has eased toward neutral territory.
• The primary barrier lies at the nine-day EMA at 184.75.

EUR/JPY extends its winning streak for the third successive day, trading around 184.80 during the Asian hours on Monday. The technical analysis of the daily chart indicates the currency cross consolidating in a neutral tone as it holds just above the nine-day Exponential Moving Average (EMA) but remains capped by the 50-day EMA.

This tight EMA squeeze hints at an indecisive market after the recent pullback, while the 14-day Relative Strength Index (RSI) near 47 suggests momentum has cooled toward neutral rather than signaling outright oversold conditions.

On the upside, the EUR/JPY cross is testing the immediate resistance at the 50-day EMA of 184.86. A successful break above the medium-term averages would support the bullish momentum and lead the currency cross to explore the region around the all-time high of 187.95, which was recorded on April 17.

The EUR/JPY cross is positioned slightly above the nine-day EMA at 184.75. A sustained break below the short-term average would cause the bearish emergence and put downward pressure on the currency cross to navigate the region around a nearly 11-week low of 181.87, recorded on March 16, followed by a five-month low of 180.81, which was reached on February 12.

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