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fxJul 29, 2026, 3:34 AM

EUR/JPY targets 187.00 resistance within rising wedge

EUR/JPY holds a bullish near-term bias above key moving averages, with the rising wedge top at 187.00 as the next upside target.

EURJPY

EUR/JPY is trading around 186.60 in Asian hours on Wednesday, little changed after modest gains the previous day. The pair maintains a constructive short-term tone as it holds above both the nine-period and 50-period Exponential Moving Averages (EMAs).

Technical charts show a developing rising wedge pattern. The upper boundary of the formation sits near 187.00, which now acts as the immediate resistance. A sustained break above that level could accelerate bullish momentum.

On the downside, the EMAs provide initial support, with a break below potentially signaling a shift in the near-term outlook. However, for now, the path of least resistance appears to the upside within the pattern.

Source: FXStreet Forex News