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EUR/JPY chart - Trading View
EUR/JPY erases early gains to slip into negative territory, scope for further weakness.
The pair edges lower from session highs at 117.94 and was trading 0.08% lower at 117.45 at around 08:20 GMT.
Price action is extending weakness after rejection at 21-EMA resistance, technical indicators support downside.
GMMA indicator shows both major and minor trend are strongly bearish. 5-DMA has turned, volatility is rising and momentum strongly bearish.
Recovery attempts were capped at 200H MA and any minor upside only on break above.
Dip till 116 (major trendline support) likely. Breach below will open downside. Next major support lies at 78.6% Fib at 115.26.
