FxWirePro: EUR/JPY extends winning streak for the 3rd straight session, eyes 110-EMA at 118.44

EUR/JPY chart - Trading View 

EUR/JPY was trading 0.26% higher on the day at 117.93 at around 05:45 GMT after closing 0.45% higher in the previous session.

The pair is extending a winning streak for the 3rd straight session with scope for further upside.

Technical indicators have turned bullish on the daily charts. RSI has is above 50 and is sharply higher.

Volatility is rising as evidenced by widening Bollinger bands and MACD supports upside.

The pair finds stiff resistance at daily cloud and 110-EMA. Break above eyes 200-DMA at 119.25.

55-EMA is immediate support at 117.44. Retrace below will see dip till 116.59. Break below 21-EMA negates bullish bias.

Support levels - 117.63 (38.2% Fib), 117.44 (55-EMA), 116.59 (21-EMA)

Resistance levels - 118.21 (Cloud base), 118.44 (110-EMA), 119.25 (200-DMA)