- EUR/JPY has shown a clear breakout above 50-DMA.
- The pair has also broken above major resistance zone at 114.73-80.
- Momentum studies are bullish, Stochs and RSI are biased higher.
- Major support levels - 114.73 (double top), 114.32 (50-DMA), 114.
- Major resistance levels - 115, 115.50 (June 16 low), 116.03 (cloud base).
Recommendation: Good to go long on dips around 114.80, SL: 114.30, TP: 115.50/ 115.75
