The currency pair consolidates above key EMAs, with RSI at 56 signaling sustained bullish momentum ahead of a potential breakout.
EUR/JPY trades at 185.90 in Asian hours, retreating slightly after three consecutive days of gains. The cross remains above both the nine-period and 50-period EMAs, reinforcing a constructive bullish bias.
Technical indicators show the pair near the upper boundary of an ascending triangle at 186.10, with the 14-day RSI at 56, indicating positive but not overextended momentum. Shallower dips suggest buyers are absorbing selling pressure, increasing the likelihood of a breakout.
A daily close above 186.10 could trigger a bullish continuation toward the April 17 all-time high of 187.95. Support levels are seen at the nine-day EMA (185.35) and 50-day EMA (185.05), with further declines targeting 184.70.