Chart - Courtesy Trading View
Technical Analysis:
- EUR/JPY was trading 0.04% higher on the day at 142.95 at around 10:30 GMT
- The pair has closed above daily cloud, raising scope for further gains
- MACD and ADX support upside in the pair
- Momentum is bullish, Stochs and RSI are biased higher
- Price action is above 200H MA
- GMMA indicator shows major and minor trend are bullish on the intraday charts
Major Support and Resistance Levels:
Support levels:
S1: 141.86 (5-DMA)
S2: 141.66 (110-EMA)
Resistance levels:
R1: 143.12 (Upper BB)
R2: 144.70 (Trendline resistance)
Summary: EUR/JPY trades with a bullish bias. Close above cloud on Tuesday has raised scope for further gains. Test of Triangle top at 144.70 likely.
