Forex
EUR/JPY Tests Rising Wedge Bottom Amid Neutral Momentum
The EUR/JPY currency pair has reached the lower boundary of its rising wedge formation around 184.10, indicating potential bearish momentum.
The Relative Strength Index (RSI) at 50 suggests neutral momentum, and the spot remains within the rising wedge, which typically acts as a bearish reversal pattern.
Despite holding above the nine-period Exponential Moving Average (EMA), the EUR/JPY cross retains a constructive near-term tone but faces resistance at its 50-day EMA near 184.49.