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Forex

EUR/JPY Rising Wedge Pattern Targets 187.00 Resistance

Guavy AI Editorial Team
Instruments
EUR JPY
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The EUR/JPY currency pair is forming a critical technical juncture as it trades within a rising wedge pattern that targets the 187.00 resistance level.

A rising wedge is a bearish reversal pattern characterized by converging upward-sloping trendlines, typically signaling a potential bearish reversal in the market.

The EUR/JPY pair's price action has been consolidating within this contracting formation, indicating a potential breakout or reversal in the near term.

If the pair breaks above the upper trendline near 187.00, it could invalidate the bearish bias and signal continued strength, targeting further gains toward 188.00 or higher.

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