EUR/JPY Price Forecast: Remains below ascending triangle top near 186.00

EUR/JPY extends its losses for the second consecutive day, trading around 185.70 during the Asian hours on Friday. The currency cross is holding above both the nine-period and 50-period Exponential Moving Averages (EMAs), which reinforces a constructive near-term bias. The 14-day Relative Strength Index (RSI) sits at 55.17, neutral-to-positive territory, suggesting steady bullish momentum rather than an overstretched rally.

The daily chart technical analysis shows the EUR/JPY cross is pressing against ascending triangle resistance near 186.00. This flat ceiling, combined with shallower dips, signals aggressive buying pressure. Because bulls are consistently absorbing the supply at this level, momentum is heavily building for an imminent upside breakout. A decisive daily close above this upper boundary typically triggers 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 185.42, followed by the 50-day EMA at 185.09. Further declines would put downward pressure on the EUR/JPY cross to test the ascending triangle’s lower boundary around 184.80. A break below the triangle would expose the four-month low of 181.87, recorded on March 16, and the six-month low of 180.81.