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  |   Technicals


FxWirePro: EUR/JPY Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis:

- EUR/JPY was trading 0.27% higher on the day at 137.95 at around 10:30 GMT

- The pair is extending upside for the sixth consecutive session

- Price action is above 200H MA and GMMA indicator shows major and minor trend are bullish on the intraday charts

- Momentum is bullish, Stochs and RSI are biased higher. MACD is on verge of bullish crossover on signal line

- Price action is testing cloud resistance, Chikou span is biased higher

Support levels:

S1: 137.02 (5-DMA)

S2: 136.30 (200H MA)

Resistance levels:

R1: 138.45 (Cloud base)

R2: 139.58 (23.6% Fib)

Summary: EUR/JPY pivotal at cloud resistance. Technical bias is turning bullish. Watch out for decisive break into cloud for further upside. 

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