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FxWirePro: EUR/JPY extends bullish streak for the 9th straight session, hits fresh 7-year high above 142 handle

Chart - Courtesy Trading View 

Technical Analysis:

- EUR/JPY was trading 0.52% higher on the day at 141.76 at around 11:00 GMT

- The pair is extending the bull run for the 9th consecutive session, hits fresh 7-year high above 142 handle

- Price action is above cloud, Chikou span is biased higher

- Momentum is bullish, oscillators are at overbought, but no signs of reversal seen

- Volatility is high, major moving averages are trending higher

Support levels - 140.17 (5-DMA), 138.44 (200H MA), 137.80 (21-EMA)

Resistance levels - 142.25 (Upper W BB), 143, 145.32 (Jan 2015 high)

Summary: EUR/JPY has erased some gains for the day and has slipped lower from session highs at 142.05. Outlook remains bullish. 
 

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