|   Technicals


  |   Technicals


FxWirePro: EUR/JPY Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis:

- EUR/JPY was trading 0.27% higher on the day at 137.74 at around 06:45 GMT

- The pair is extending gains for the 5th consecutive session

- Price action has retraced above 110-EMA and is currently above 200H MA

- GMMA indicator shows major trend is neutral, while minor trend is turning bullish

- Stochs confirm bullish rollover from oversold levels, RSI is biased higher

Major Support Levels: 

S1: 136.51 (5-DMA)

S2: 134.57 (Lower BB)

Major Resistance Levels: 

R1: 137.97 (21-EMA)

R2: 138.42 (55-EMA)

Summary: EUR/JPY stays in the green despite Italy’s political jitters. Downbeat Japan data, weekend numbers from China appear to keep the pair supported. 21-EMA is immediate resistance at 137.96. Watch out for decisive break above for upside continuation. 

  • Market Data

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.