The EUR/JPY currency pair is trading around 183.30 during the Asian session, extending gains for the second consecutive day while approaching a key resistance zone near 183.50. Despite the recent recovery, price action remains capped below the nine-day Exponential Moving Average (EMA), suggesting that bullish momentum is still limited in the short term.

Technical Overview
On the daily chart, EUR/JPY continues to trade within a descending triangle pattern, a structure that often signals consolidation before a potential breakout. The pair is currently testing the upper boundary of this triangle, indicating that the market is approaching an important decision point.
The nine-day EMA near 183.43 acts as the immediate resistance level. A sustained break above this short-term average could strengthen bullish momentum and allow the pair to challenge the triangle resistance around 183.70.
Meanwhile, the 14-day Relative Strength Index (RSI) remains close to the 50 level, reflecting neutral market momentum. This suggests that neither buyers nor sellers currently have clear control of the market direction.

Key Support Levels
50-day EMA: 183.15
Lower boundary of descending triangle: 181.80
Three-month low: 180.81
Holding above 183.15 keeps the medium-term outlook stable. A break below this level could trigger further downside pressure.

Key Resistance Levels
Nine-day EMA: 183.43
Triangle resistance: 183.70
All-time high: 186.88
A break above 183.70 would signal bullish continuation, potentially opening the path toward the record high.

Trading Outlook
EUR/JPY remains in a consolidation phase, trapped between the 50-day EMA support and 9-day EMA resistance. Traders are likely to wait for a clear breakout before committing to directional trades.

Summary:
Bullish scenario: Price breaks above 183.70, next target 186.88
Bearish scenario: Price breaks below 183.15, next target 181.80–180.81

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