The currency pair struggles below VWAP and EMAs, with technical indicators signaling weak bullish momentum amid a symmetrical triangle pattern.
EUR/JPY recovered to around 184.50 in Asian trading Friday after two sessions of declines, but remains below critical resistance levels. The cross holds beneath the session’s Volume-Weighted Average Price (VWAP) at 185.50 and key Exponential Moving Averages, including the nine-period EMA at 184.64 and the 50-period EMA at 184.91.
Technical analysis shows the pair trapped in a symmetrical triangle, with neither buyers nor sellers gaining control. The 14-day Relative Strength Index (RSI) at 46.58 suggests weakening bullish momentum, while support lies near 183.50, followed by multi-month lows at 181.87 and 180.81.
A break above the triangle’s upper boundary at 185.90 could target the April 17 all-time high of 187.95, though follow-through remains uncertain.