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Chart - Courtesy Trading View
Technical Analysis:
- EUR/JPY was trading unchanged at 136.86 at around 06:10 GMT
- Price action was rejected at daily cloud and 55-EMA resistance
- The pair hovers around 38.2% Fib, upside remains capped at 110-EMA
- Momentum is bearish, RSI is below 50, biased lower
- Price action is below daily cloud and Chikou span is biased lower
Support levels - 136.68 (38.2% Fib), 136.47 (200H MA)
Resistance levels - 137.32 (55-EMA), 138.29 (55-EMA)
Summary: EUR/JPY trades with a neutral bias. Rejection at cloud and 55-EMA has raised scope for further downside.
