EUR/JPY chart - Trading View
- EUR/JPY was trading 0.18% higher on the day at 129.64 at around 12:00 GMT
- The pair is extending choppy trade around 5-DMA and bias remains neutral, with a bearish tilt
- Price action is capped between 21-EMA and 200-DMAs, and range trade likely to continue
- Oscillators are in neutral territory, RSI is flat and below the 50 mark, volatility is low
- GMMA indicator shows major and minor trend are bearish on the daily and neutral on the intraday charts
- Price action is below cloud and MACD and ADX support weakness
- Upticks in the pair remain capped at 200H MA resistance
Support levels - 129.34 (38.2% Fib), 128.93 (200-DMA), 127.87 (50% Fib)
Resistance levels - 129.86 (21-EMA), 130.28 (110-EMA), 130.53 (55-EMA)
Summary: EUR/JPY continues sideways grind between major moving averages. Technical analysis does not provide a clear indication, but slight bearish tilt remains. Watch for breakout above 21-EMA or below 200-DMA for clear directional bias.
