EUR/JPY Pulls Back to Triangle Top Near 186.00, Bullish Bias Remains
EUR/JPY edged lower during Asian trading on Thursday, pulling back to the top of an ascending triangle pattern around 186.00 after three days of gains. The pair maintains a constructive bullish bias as it trades above both the 9- and 50-period EMAs.
EUR/JPY retreated to around 185.90 during the Asian session on Thursday, giving back some of the gains from the previous three days. The pair is currently testing the upper boundary of an ascending triangle formation near the 186.00 level.
On the technical side, the pair retains a constructive bullish bias as it continues to hold above both the nine-period and 50-period exponential moving averages. This suggests that the pullback may be a pause before a potential breakout above the triangle resistance.
Source: FXStreet Forex News