Chart - Courtesy Trading View
EUR/JPY was trading 1.10% higher on the day at 141.01 at around 09:50 GMT.
The pair has broken past daily cloud and is poised for further upside. Chikou span is biased higher.
Focus on the ECB event on Thursday where the central bank is expected to raise policy rate by 75 bps.
On the data front, German Factory Orders contracted at a monthly 1.1% and the Construction PMI ticked lower to 41.4 in August (from 43.7).
GMMA indicator shows major trend is neutral, while minor trend has turned bullish.
Momentum is bullish, Stochs and RSI are sharply higher, MACD and ADX support gains.
Support levels - 140.63 (Upper BB), 139.81 (5-DMA)
Resistance levels - 142, 142.98 (Upper W BB)
Summary: EUR/JPY close above daily cloud raises scope for further upside. Scope for fresh yearly highs above 144.27.
