EUR/JPY Price Forecast: Holds above nine-day EMA support at 185.50

• EUR/JPY may find immediate resistance at the ascending triangle top near 186.10.
• The 14-day Relative Strength Index of 55.33 signals healthy bullish momentum that is not yet overextended.
• The initial support lies at the nine-day EMA at 185.50.

EUR/JPY remains subdued for the third consecutive day, trading around 185.80 during the Asian hours on Monday. The currency cross is holding a constructive bullish bias as it stays above both the nine-day and 50-day Exponential Moving Averages (EMAs), now aligned as nearby dynamic support.

The 14-day Relative Strength Index (RSI) at 55.33 leans to the upside without signalling overbought conditions, suggesting bullish momentum is present but not yet overstretched while price consolidates just under the recent highs.

The daily chart technical analysis shows the EUR/JPY cross is remaining within the ascending triangle, at the top near 186.10. This flat ceiling, combined with shallower dips, signals aggressive buying pressure. A decisive break above the triangle could trigger a powerful bullish continuation, which could expose the all-time high of 187.95, which was recorded on April 17.

On the downside, primary support lies at the nine-day EMA at 185.50, followed by the 50-day EMA at 185.12 and the ascending triangle’s lower boundary around 185.00. A break below the triangle would weaken the bullish bias and put downward pressure on the EUR/JPY cross to navigate the region around the five-month low of 181.87, recorded on March 16, and the seven-month low of 180.81.

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