The cross holds above key moving averages and VWAP, with RSI signaling modest bullish momentum amid tight consolidation.
EUR/JPY trades at 185.30 in Asian hours, rebounding from recent losses as it maintains support above the Volume-weighted Average Price (VWAP) and a cluster of Exponential Moving Averages (EMAs). The 50-day EMA at 184.95 acts as immediate trend support, while the 14-day Relative Strength Index (RSI) at 52.81 suggests steady, rather than aggressive, upside potential.
The cross is consolidating within a symmetrical triangle pattern on the daily chart, reflecting a balance between buyers and sellers. A break above the upper boundary at 185.80 could target the April 17 all-time high of 187.95. Downside risks include a drop below the VWAP at 185.20, with further support at the 50-day EMA and the triangle’s lower boundary near 183.70.
Technical levels remain pivotal as traders await a decisive move, with neither bulls nor bears establishing clear control.