Chart - Courtesy Trading View
Technical Analysis:
- EUR/JPY was trading 0.66% lower on the day at 135.95 at around 09:55 GMT
- The pair has shown a decisive break below 38.2% Fib retracement
- Momentum indicators are biased lower, RSI is well below the 50 mark
- MACD and ADX support downside in the pair. Chikou span is biased lower
- GMMA indicator shows major trend is neutral while minor trend is bearish
Support levels:
S1: 134.33 (50% Fib)
S2: 133.66 (200-DMA)
Resistance levels:
R1: 136.68 (38.2% Fib)
R2: 137.17 (110-EMA)
Summary: EUR/JPY trades with a bearish bias. Scope for dip till 50% Fib retracement at 136.68.
