EUR/JPY depreciates after two days of gains, trading around 184.20 during the Asian hours on Monday. The technical analysis of a daily chart indicates that the spot remains within a rising wedge, signaling that the upward trend is losing momentum and that the wedge typically acts as a bearish reversal.
The EUR/JPY cross retains a constructive near-term tone as it holds above the nine-period Exponential Moving Average (EMA), keeping price supported despite last week’s pullback from the highs. The 14-day Relative Strength Index (RSI) around 50 suggests neutral momentum after the prior correction, hinting that directional conviction is still…
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