EUR/JPY Holds Bullish Tone as Support Levels Hold

The EUR/JPY currency pair is stabilizing after two consecutive daily losses, trading around 186.20 in Asian hours on Tuesday.

Despite the decline, the pair maintains a constructive near-term outlook as it continues to hold above both the nine-period and 50-period Exponential Moving Averages (EMAs), supporting the broader upward trend.

The 14-day Relative Strength Index (RSI) stands at 57.46, indicating that bullish momentum remains in place without yet reaching overbought territory.

On the daily chart, EUR/JPY is moving within a rising wedge formation, which highlights an elevated risk of a bearish reversal even as the broader trend remains positive.