FxWirePro: EUR/JPY Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis:

- EUR/JPY was trading 0.12% lower on the day at 142.89 at around 07:10 GMT

- The pair is extending weakness for the second straight session, remains capped below 5-DMA

- Momentum has turned bearish, Stochs and RSI have rolled over from overbought levels

- Chikou span is biased lower, MACD is on verge of bearish crossover on signal line

- Price action has slipped below 200H MA, GMMA shows major and minor trend are bullish

Major Support Levels: 

S1: 141.31 (21-EMA)

S2: 140.76 (20-DMA)

Major Resistance Levels: 

R1: 143.30 (5-DMA)

R2: 143.60 (200H MA)

Summary: EUR/JPY remains capped below 5-DMA. Scope for test of 21-EMA support at 141.31.