EUR/JPY chart - Trading View
EUR/JPY was trading 0.18% higher on the day at 126.14 at around 08:50 GMT. Outlook remains bullish.
Price is extending sideways grind. The pair is consolidating break above 200W MA ahead of the next leg higher.
EUR puts or bearish bets are now drawing higher demand (premium) than the calls, suggesting the pair is likely to extend sideways grind.
On the other side, vaccine optimism and expectations for a global economic recovery in 2021 favor further gains in the EUR.
Technical bias for the pair is bullish. Resumption of upside will see test of 61.8% Fib at 128.67.
5-DMA is immediate support at 126.09. Bullish invalidation only below 200W MA.
