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FxWirePro: EUR/JPY Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis:

- EUR/JPY was trading 0.22% lower on the day at 136.37 at around 10:05 GMT

- The pair is extending weakness after rejection at 21-EMA resistance

- Price action is below 200H MA and GMMA indicator shows major and minor trend are bearish on the intraday charts

- The pair is trading below daily cloud and Chikou span is biased lower

Major Support Levels: 

S1: 134.88 (Lower BB)

S2: 134.11 (200-DMA)

Major Resistance Levels: 

R1: 136.99 (5-DMA)

R2: 137.23 (21-EMA)

Summary: EUR/JPY is trading with a bearish bias. Scope for test of 200-DMA. Bearish invalidation only above 21-EMA. 
 

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