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EUR/JPY holds below key EMAs as bears test triangle support
The cross is probing support near 182.90, with a break below seen as potentially pushing it toward the 179.37 nine-month low.
EUR/JPY extended losses for a second straight day, trading around 183.00 in Asian hours on Thursday, as the pair stayed within a symmetrical triangle on the daily chart, FXStreet reported.
Technical levels point to a near-term bearish tilt while EUR/JPY remains below the nine-period and 50-period EMAs, which are acting as caps on potential rebounds.
The pair is testing immediate support at the lower boundary of the triangle near 182.90, and a move below the pattern would strengthen the downside bias and pressure it toward the nine-month low of 179.37 recorded on August 3.
On the downside, the 14-day RSI was at 37.31 and edging toward oversold, suggesting weakening downside momentum rather than a full reversal, while resistance is seen at 184.72 to 184.76 and higher at 185.80, FXStreet added.