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EUR/JPY holds gains near 185.50 as it tests resistance around 186.10
EUR/JPY is pressing the upper end of its recent range, with support clustered near the nine-day EMA around 185.46 and a deeper downside path toward 181.87 if the ascending triangle breaks.
EUR/JPY edged higher after three straight sessions of losses, trading around 185.50 during Tuesday’s Asian hours, according to FXStreet.
The pair was holding above both the nine-day and 50-day Exponential Moving Averages, a technical setup FXStreet says supports a mildly bullish near-term bias. The 14-day RSI around 53 points to constructive momentum that is not stretched.
FXStreet also flags the pair’s position inside an ascending triangle, with initial resistance expected near the triangle’s upper boundary around 186.10. A clear break above that level could open the door to a move toward the all-time high of 187.95 recorded on April 17.
On the downside, immediate support is cited at the nine-day EMA near 185.46, with additional backing around the 50-day EMA of 185.12 and the lower edge of the triangle near 185.00. FXStreet notes that a breakdown below the pattern would undermine the bullish setup, exposing EUR/JPY to deeper declines toward 181.87 and then 180.81.