FxWirePro- Currency Strength Index (4- Hour chart)- Currency pairs to watch (EURAUD and EURJPY) for the day)
FxWirePro: EUR/JPY Daily Outlook
Chart - Courtesy Trading View
EUR/JPY was trading 0.14% lower on the day at 141.54 at around 16:30 GMT.
The pair has bounced off 110-EMA and daily cloud support and is testing 20-DMA resistance.
Price action has edged above 200-DMA and GMMA indicator shows a bullish shift.
Stochs are showing a bullish rollover from oversold levels. RSI is above the 50 mark.
Momentum is turning bullish. Volatility is high as evidenced by wide Bollinger bands.
Major Support Levels:
S1: 140.62 (23.6% Fib)
S2: 140.31 (5-DMA)
Major Resistance Levels:
R1: 141.94 (20-DMA)
Summary: EUR/JPY pivotal at 20-DMA. Watch out for decisive break above for upside continuation.