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Chart - Courtesy Trading View
Technical Analysis:
- EUR/JPY was trading largely unchanged at 140.04 at around 06:50 GMT
- The pair is consolidating in narrow range above daily cloud
- GMMA indicator shows major trend is neutral, while minor trend is bullish
- Momentum is bullish. Stochs show bullish rollover from oversold levels, while RSI is above the 50 mark
- MACD is on verge of bullish crossover on signal line
Support levels:
S1: 139.81 (5-DMA)
S2: 139.23 (50-DMA)
Resistance levels:
R1: 140.45 (20-DMA)
R2: 141
Summary: The pair has paused a 4-day bullish streak, bias remains bullish. Price action remains capped at 20-DMA, decisive break above will fuel further gains.
