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EUR/JPY chart on Trading View used for analysis
- EUR/JPY is trading 0.52% higher on the day at 128.90 at the time of writing.
- The pair has been struggling at stiff resistance in 129 to 129.23 zone, break above required for further gains.
- Price action is raging in 'Symmetric Triangle' pattern and breakout will provide clear direction.
- Technical analysis for the day shows neutral bias. RSI and Stochs are flat and inconclusive.
- Breakout above cloud base and 55-EMA could see test of 200-DMA.
- On the flipside we see strong support at 127.35 (major trendline). Break below could see weakness till 126.63 (Oct 26 low)
Support levels - 128.72 (5-DMA), 127.35 (trendline), 126.63 (Oct 26 low)
Resistance levels - 129.23 (55-EMA), 129.93 (200-DMA)
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
