EUR/JPY Price Forecast: Rebounds above confluence around 185.00, moving averages
The post EUR/JPY Price Forecast: Rebounds above confluence around 185.00, moving averages appeared on BitcoinEthereumNews.com. EUR/JPY pares its recent losses from the previous day, trading around 185.30 during the Asian hours on Wednesday. The currency cross is retaining a mildly bullish bias as it holds above the Volume-weighted Average Price (VWAP) and a cluster of Exponential Moving Averages (EMAs), with the 50-day EMA acting as nearby trend support. The 14-day Relative Strength Index (RSI) at 52.81 sits just above its midline, hinting at steady, rather than aggressive, upside momentum while price remains supported by these underlying levels. Daily chart technical analysis shows the EUR/JPY cross consolidating within a symmetrical triangle pattern, signaling that both buyers and sellers are growing increasingly aggressive as they compress the price into a narrowing range. This tight consolidation reflects a temporary balance of power, with neither side establishing clear control ov