The currency pair trades near 183.90, holding below key EMAs and signaling downside pressure amid market indecision.
EUR/JPY fell below 184.00 in Asian trading on Friday, extending losses after minor gains the prior day. The cross remains under pressure, trading at 183.90, as it stays below both the nine-period (184.38) and 50-period (184.91) EMAs.
The pair is trapped in a symmetrical triangle, reflecting market indecision, while the 14-day RSI at 38 suggests lingering downside momentum. Support is seen at 183.40, with further declines targeting the March 16 low of 181.87. Resistance lies at the nine-period EMA of 184.38.
Despite the bearish bias, the spot price above the VWAP of 183.81 indicates buyers are willing to pay a premium, though shrinking volatility limits directional clarity until a breakout occurs.