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FxWirePro: EUR/JPY refreshes 6-week highs, outlook bullish

Friday, September 2, 2022 11:09 AM UTC

Chart - Courtesy Trading View

Technical Outlook:

- EUR/JPY was trading 0.64% higher on the day at 140.30 at around 11:00 GMT

- The pair has resumed upside after a brief pause on Thursday's trade

- Price action has edged above daily cloud, Chikou span is biased higher

- Momentum is bullish, volatility is high and rising

- GMMA indicator shows minor trend is bullish, while major trend is turning bullish

Support levels - 139.39 (5-DMA), 138.04 (55-EMA)

Resistance levels - 141, 142, 142.32 (July 21 high)

Summary: EUR/ JPY break above daily cloud has raised scope for further upside. Weakness only below daily cloud.

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FxWirePro: EUR/JPY refreshes 6-week highs, outlook bullish

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