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FxWirePro: EUR/JPY Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis:

- EUR/JPY was trading 0.73% higher on the day at 144.66 at around 10:10 GMT

- The pair has bounced off 55-EMA support, weakness only on break below

- Spinning top formation at 55-EMA raises scope for further upside in the pair

- Pullback on account of Bearish RSI divergence has found support at 23.6% Fib retracement

- Major trend in the pair is bullish, price action is on track to test 200H MA

Support levels - 144, 143.54 (55-EMA), 142.73 (23.6% Fib)

Resistance levels - 145.20 (21-EMA), 145.45 (200H MA), 146.08 (20-DMA)

Summary: EUR/JPY snaps 4-day bearish streak, holds support at 23.6% Fib. Technicals point to upside resumption. Weakness only below 55-EMA. 
 

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