Currency markets opened Monday with two yen crosses at decisive technical thresholds, according to analysis published by BitcoinWorld. The euro–yen pair was testing the lower boundary of a rising wedge near 184.00, while dollar–yen remained capped below its 50% Fibonacci retracement around 159.00.
For EUR/JPY, the rising wedge is considered a bearish reversal pattern. Price has formed higher highs and higher lows, but the narrowing range leaves the lower trendline as support. A sustained daily close below 184.00 could trigger stop-loss selling and open the next support zone, while a bounce may lead to a retest of the upper trendline. Momentum indicators show mixed signals: RSI near neutral and MACD flat. The article notes that European Central Bank policy and the Bank of Japan’s ultra-loose stance remain key drivers.
For USD/JPY, the pair is struggling to hold above 159.00 and faces resistance at the 50% Fibonacci retracement of the recent decline from the 161.00 region. Immediate support lies at 158.50 and 158.00, with the 61.8% Fibonacci near 157.40 as the next downside target. The wide US–Japan interest rate differential continues to favor the dollar, although hints of Bank of Japan normalization and upcoming inflation and wage data could influence the yen.
No specific cryptocurrency coins were directly referenced in either report, so the direct digital-asset impact is limited. Still, the macro backdrop of central bank policy divergence is part of the broader risk environment that can influence crypto market sentiment.
