EUR/JPY chart - Trading View
EUR/JPY was extending gains for the 3rd straight session, outlook is turning bullish.
On the data front, data published by the Eurostat showed on Thursday that EU Retail Sales declined by 2% in September vs. -1% expected.
The pair is largely ignoring poor data as market optimism takes hold as traders cheer the prospects of a decisive result in the US elections.
The pair is trading over 0.40% higher on the around 123 handle, finds stiff resistance at 110-EMA at 123.04.
Resumption of upside likely on break above 110-EMA. Technical indicators are turning bullish.
Price action has broken above 200H MA. 5-DMA has turned north. MACD is on verge of bullish crossover on signal line.
RSI has turned and Stochs are on verge of rollover from oversold levels. GMMA on the intraday charts have turned bullish.
Break above 110-EMA will see test of daily cloud at 124.72 ahead of 200W MA at 125.17.
