EUR/JPY Stalls Near 184.00 as Cross Slips Below 50-Day EMA
The euro-yen pair held steady around 183.90 for a second day, with the cross dipping beneath the 50-day EMA but staying above the shorter nine-day average.
EUR/JPY barely moved for the second successive day on Wednesday, trading around 183.90 during the Asian session. The pair remains within a narrow range near the 184.00 handle.
The cross has edged below the 50-day exponential moving average, signaling a mildly bearish near-term tone. However, it continues to hold above the nine-day EMA, capping downside momentum for now.
The mixed technical picture leaves the pair in a neutral short-term setup with a slight downward bias. Further direction will likely depend on a break above the 50-day EMA or a drop below the shorter moving average.
Source: FXStreet Forex News