The currency pair trades above key EMAs but faces bearish pressure from a rising wedge pattern near 187.00 resistance.
EUR/JPY remains steady around 186.60 in Asian trading, maintaining a bullish near-term bias above its nine- and 50-period EMAs. The 14-day RSI at 60 supports upside momentum without signaling overbought conditions.
Technical analysis highlights a rising wedge pattern on the daily chart, increasing the risk of a bearish reversal. Initial resistance sits at 187.00, with a breakout targeting the April 17 all-time high of 187.95. Downside support lies at 186.18, followed by 185.60 and 185.39.
A drop below these levels could push the pair toward March’s five-month low of 181.87 or the seven-month low of 180.81.