FxWirePro: EUR/JPY tests 110-EMA resistance, traders await key German inflation data
EUR/JPY chart - Trading View
EUR/JPY was trading 0.16% higher on the day at 130.35 at around 08:50 GMT.
Price is extending gains for the second straight session, finds major resistance at 110-EMA at 130.43.
The pair is showing signs of further gains. 5-DMA has turned. RSI is biased higher. MACD shows bullish crossover on signal line.
GMMA indicator shows major and minor trend has turned bullish on the intraday charts.
Focus now is on eurozone Unemployment Rate, Consumer Confidence data, and German Harmonized Inflation Rate for impetus.
Decisive break above 110-EMA will fuel further upside. Next hurdle lies at 55-EMA at 130.99.