EUR/JPY extends gains for a second straight day, trading around 186.20 during the Asian session on Wednesday. The pair retains a bullish near‑term bias, staying above both the nine‑period and 50‑period exponential moving averages.
The 14‑day Relative Strength Index reads 57.48, indicating constructive but not overbought momentum, which supports further upside as long as price remains above the EMA band.
Daily‑chart analysis shows EUR/JPY testing the upper boundary of an ascending triangle near 186.20, suggesting growing bullish pressure and a potential upside breakout. A decisive move above the triangle could trigger a strong continuation, possibly exposing the all‑time high of 187.95 reached 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 around 185.10. A sustained break below the triangle would invalidate the bullish setup, opening the path toward the five‑month low of 181.87 (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.)