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  |   Technicals


FxWirePro: EUR/JPY Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis:

- EUR/JPY was trading largely muted at 137.50 at around 10:55 GMT

- The pair has been capped at 21-EMA which is offering stiff resistance at 137.43

- Price action has made a session high at 137.65 and low at 137.14

- Momentum is with the bulls. Stochs and RSI are biased higher

- GMMA indicator shows major and minor trend are neutral, price action is above 200H MA

Support levels - 137.07 (110-EMA), 136.76 (5-DMA)

Resistance levels - 138.05 (55-EMA), 139.62 (Upper BB)

Summary: EUR/JPY pivotal at 21-EMA resistance. Upside only on decisive break above. 

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