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EUR/JPY eyes breakout near 185.60 after three straight gains
A daily close above the symmetrical triangle’s upper line around 185.60 could spark a move toward the all-time high near 187.95, while support sits near 185.12 and 185.00.
EUR/JPY extended gains for a third straight day, trading around 185.40 during Wednesday’s Asian session, and held above both the nine-period and 50-period exponential moving averages, according to FXStreet.
The technical picture points to the pair being positioned near the upper boundary of a symmetrical triangle around 185.60, with the 14-day RSI around 53 indicating steady, not overstretched, upside momentum.
FXStreet said a decisive daily close above roughly 185.60 would confirm the breakout and typically set up a sharp rally toward the all-time high at 187.95, last recorded April 17.
On the downside, primary support is at the nine-day EMA near 185.12, followed by the 50-day EMA around 185.00, with further weakness potentially pushing EUR/JPY toward the triangle’s lower boundary near 183.80, and then toward the four-month low at 181.87 (March 16) and the six-month low at 180.81.