The currency pair tests critical triangle support after three days of losses, with technical indicators signaling sustained downside momentum.
EUR/JPY fell for a third consecutive session, trading near 183.60 in Asian hours as sellers dominate the near-term outlook. The cross remains below short- and medium-term EMAs, reinforcing a bearish bias despite intraday stabilization efforts.
The pair is testing the lower boundary of a symmetrical triangle at 183.50, a pivotal level where buyers are attempting to defend support. A break below this point could trigger further declines, while overhead resistance is capped by the session VWAP at 184.28 and the 50-period EMA at 184.99.
The 14-day RSI at 36 suggests downside momentum may be weakening, though price action remains pressured. Institutional sellers are likely to defend the VWAP level, limiting any potential rebound.