EUR/JPY Price Forecast: Tests ascending triangle top above 186.00

EUR/JPY is testing the ascending triangle’s upper boundary near 186.20.
The 14-day Relative Strength Index at 57.48 suggests constructive but not overbought momentum.
The initial support lies at the nine-day EMA at 185.66.

Akhtar Faruqui FXStreet

EUR/JPY extends its gains for the second successive day, trading around 186.20 during the Asian hours on Wednesday. The currency cross is retaining a bullish near-term bias as it holds above both the nine-period and 50-period Exponential Moving Averages (EMAs).

The 14-day Relative Strength Index (RSI) at 57.48 suggests constructive but not overbought momentum, reinforcing the scope for further gains as long as price stays above the nearby EMA band.

The daily chart technical analysis shows the currency cross is testing the upper boundary of the ascending triangle around 186.20, suggesting growing bullish momentum and a potential breakout to the upside. A decisive break above the triangle could trigger a powerful bullish continuation, which could expose the all-time high of 187.95, which was recorded on April 17.

On the downside, primary support sits at the nine-day EMA of 185.66, with additional backing at the 50-day EMA of 185.18 and the lower edge of the ascending triangle near 185.10. A sustained break below the triangle pattern would undermine the bullish setup, exposing the EUR/JPY cross to deeper downside toward the five-month low of 181.87, recorded on March 16, and the seven-month low of 180.81.

(The technical analysis of this story was written with the help of an AI tool. Know more.)

Euro Price Today

The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the Japanese Yen.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.07%	-0.07%	-0.03%	-0.02%	-0.05%	-0.06%	-0.00%
EUR	0.07%		0.00%	0.07%	0.05%	0.00%	0.03%	0.07%
GBP	0.07%	-0.01%		0.04%	0.05%	-0.00%	0.01%	0.06%
JPY	0.03%	-0.07%	-0.04%		0.00%	-0.02%	-0.04%	0.03%
CAD	0.02%	-0.05%	-0.05%	-0.01%		-0.03%	0.02%	0.02%
AUD	0.05%	-0.01%	0.00%	0.02%	0.03%		0.02%	0.05%
NZD	0.06%	-0.03%	-0.01%	0.04%	-0.02%	-0.02%		0.03%
CHF	0.00%	-0.07%	-0.06%	-0.03%	-0.02%	-0.05%	-0.03%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).

Author

Akhtar Faruqui

FXStreet

Akhtar Faruqui is a Forex Analyst based in New Delhi, India. With a keen eye for market trends and a passion for dissecting complex financial dynamics, he is dedicated to delivering accurate and insightful Forex news and analysis.

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