FxWirePro: EUR/JPY sandwiched between major moving averages, likely to extend sideways

EUR/JPY chart - Trading View 

Technical Analysis: Bias Neutral

- EUR/JPY is extending range trade with session high at 129.70 and low at 129.49

- The pair remains capped between 21-EMA and 200-DMA and breakout will provide a clear direction

- Oscillators are in neutral territory, RSI is flat, volatility is low

- GMMA indicator shows major and minor trend are neutral 

- Price action is below cloud and MACD and ADX support weakness

Support levels - 128.89 (200-DMA), 128, 127.87 (50% Fib)

Resistance levels - 129.90 (21-EMA), 130.30 (110-EMA), 130.57 (55-EMA)

Summary: EUR/JPY was trading directionless between major moving averages. Technical analysis does not provide a clear indication. Watch for breakout above 21-EMA or below 200-DMA for clear directional bias.