• EUR/JPY remains close to the upper ascending triangle boundary around 184.60.
• The Relative Strength Index near 55 signals bullish momentum without overbought conditions.
• The pair may test the immediate support at the nine-day EMA of 183.92.

EUR/JPY extends its losses for the second successive session, trading around 184.10 during the Asian hours on Friday. The technical analysis of the daily chart suggests the currency cross remains close to the upper boundary of the ascending triangle pattern, reflecting rising buying pressure and leading to an upside breakout.

The near-term bias stays mildly bullish as price holds above the nine- and 50-day Exponential Moving Averages (EMAs), which align just below 184.00 and confirm a positive short-term trend within an established broader uptrend.

The Relative Strength Index (RSI) around 55 reinforces upward momentum without signaling overbought conditions, suggesting buyers retain control while dips remain shallow.

The initial barrier lies at the upper ascending triangle boundary around 184.60. A successful breakout above the triangle would reinforce the bullish bias and lead the EUR/JPY cross to explore the region around the all-time high of 186.88, reached on January 23.

On the downside, the immediate support is seen at the nine-day EMA of 183.92, followed by the 50-day EMA support at 183.34. Further declines below the medium-term average would revive the bearish bias and put downward pressure on the EUR/JPY cross to navigate the area around the lower boundary of the ascending triangle around 182.80. A break below the channel would expose the three-month low of 180.81, recorded on February 12.

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