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EUR/JPY chart - Trading View
EUR/JPY has spiked over 0.50% on the day and was trading at 124.17 at around 10:50 GMT.
The single currency seems to be supported by positive markets sentiment on Trump recovery news and U.S. stimulus hopes.
On the other side, Yen under pressure after Bank of Japan (BOJ) Governor Haruhiko Kuroda's pessimistic comments about Japan's economic and inflation outlook.
Technical bias for the pair has turned bullish. Stochs and RSI have turned bullish. Pair is set to test 50-DMA resistance at 124.78.
Next major resistance above 50-DMA lies at 200W MA at 125.16. Decisive break above required for upside continuation.
On the flipside, 110-EMA is strong support at 122.83. Retrace below will negate any bullish bias.
