EUR/JPY Near Key Breakout Resistance

Key Moments

EUR/JPY trades near 185.60, testing the upper edge of a symmetrical triangle pattern while holding above key moving averages.
The 14-day Relative Strength Index sits close to 55, indicating constructive but not overextended bullish momentum.
Initial technical support appears at the session VWAP of 185.28, with further support at the nine-day EMA of 185.13 and the 50-day EMA of 184.99.

EUR/JPY Tests Key Technical Resistance

EUR/JPY is trading around 185.60 during Asian hours on Thursday, consolidating after modest gains in the previous session. The pair is holding a positive tone as spot prices remain above key moving averages. The nine-day Exponential Moving Average (EMA) is currently above the 50-day EMA, pointing to a bullish shift in momentum.

The cross is also trading above the session Volume-Weighted Average Price (VWAP), reinforcing the constructive setup. The 14-day Relative Strength Index (RSI), sitting near 55, reflects steady upside momentum that is positive but not stretched, suggesting buyers retain control as long as nearby support levels remain intact.

Symmetrical Triangle Signals Potential Upside Break

On the daily chart, EUR/JPY is positioned near the upper boundary of a symmetrical triangle pattern around 185.60. This placement signals that a bullish breakout could be forming, as buyers continue to drive prices toward this technical barrier.

A clear daily close above the triangle’s upper boundary would confirm the breakout and would typically be associated with a strong upside extension. In such a scenario, price action could be driven toward the all-time high of 187.95, which was registered on April 17.

Key Support Levels and Downside Risk

On the downside, the first layer of support is seen at the VWAP at 185.28. Below that, the nine-day EMA at 185.13 and the 50-day EMA at 184.99 provide additional technical buffers against a deeper pullback.

If selling pressure were to intensify and push the pair below these moving averages, the EUR/JPY cross could move toward the lower boundary of the symmetrical triangle, located around 183.70. A break beneath this triangle support would open the door to retesting the four-month low of 181.87, recorded on March 16, as well as the six-month low at 180.81.

EUR/JPY – Daily Chart Context

The current configuration of the daily chart reflects a market at a pivotal juncture, with price action pressing against resistance while remaining underpinned by multiple technical supports. The constructive alignment of short- and medium-term moving averages, combined with a mid-range RSI, underscores a bullish bias, provided the pattern’s lower boundary remains intact.

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

Euro Performance Against Major Currencies

The table below shows the current percentage change of the Euro (EUR) against a set of major currencies. According to this snapshot, the Euro has been strongest against the US Dollar.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.08%	-0.05%	-0.08%	-0.07%	-0.04%	-0.40%	-0.14%
EUR	0.08%		0.03%	-0.02%	0.01%	0.06%	-0.29%	-0.05%
GBP	0.05%	-0.03%		-0.04%	-0.02%	0.03%	-0.32%	-0.08%
JPY	0.08%	0.02%	0.04%		0.00%	0.08%	-0.30%	-0.04%
CAD	0.07%	-0.01%	0.02%	-0.00%		0.06%	-0.30%	-0.06%
AUD	0.04%	-0.06%	-0.03%	-0.08%	-0.06%		-0.35%	-0.11%
NZD	0.40%	0.29%	0.32%	0.30%	0.30%	0.35%		0.24%
CHF	0.14%	0.05%	0.08%	0.04%	0.06%	0.11%	-0.24%

The heat map representation indicates percentage changes between each pair of major currencies. The base currency is selected from the left-hand column and the quote currency from the top row. For instance, choosing Euro from the left column and moving across to US Dollar on the top row shows the box value as the percentage change for EUR (base)/USD (quote).