EUR/JPY holds 183.50 support; nine-day EMA at 184.20 in focus

EUR/JPY stays above 183.50 as traders watch for a break higher toward the nine-day Exponential Moving Average (EMA) near 184.20. The latest setup is mixed but cautiously constructive: RSI is around 45 (neutral momentum), while the MACD histogram suggests bearish pressure is fading. Volume also points to accumulation around current levels. Key levels in the trading plan: 183.50–183.30 as immediate support, 184.20 as primary resistance, and 185.00 as a psychological upside area. On the downside, a break risks exposure toward the major 182.80 support. Fundamentals remain a tug of war. The ECB is cautious due to sticky services inflation, while improving Eurozone data offers some euro support. In Japan, inflation above the 2% target keeps Bank of Japan policy normalization expectations alive, which can shift yield differentials and affect EUR/JPY. Positioning is modestly supportive for the euro side, with CFTC showing moderate net long exposure in euro futures and yen positioning relatively neutral. Still, profit-taking near resistance has recently appeared. For risk management, historical yen-cross daily ranges are roughly 80–100 pips, so stops and sizing matter. For traders, the next move likely hinges on central-bank narrative and broader risk sentiment as EUR/JPY tests the nine-day EMA, with 184.20 acting as the key “decision point.”