EUR/JPY chart - Trading View
- EUR/JPY is extending grind higher, hits new 2-week highs at 126.74, bias higher.
- The pair is currently hovering around 110-EMA, up 0.15% at 126.64 at 0355 GMT.
- The technical indicators continue to show bullish bias. Stochs and RSI are sharply higher and MACD shows bullish crossover on signal line.
- Decisive breakout at 110-EMA will see gains upto 200-DMA. Further momentum could see test of 61.8% Fib at 130.36.
- On the downside, strong support is seen in the 126.75 to 128.85 zone. Break below to see further weakness.
Support levels - 126.37 (5-DMA), 125.96 (38.2% Fib), 125 (trendline)
Resistance levels - 127, 127.50 (Mar 1 high), 128 (200-DMA)
Call update: Our previous call (https://www.econotimes.com/FxWirePro-EUR-JPY-resumes-upside-after-brief-pause-stay-long-on-break-above-110-EMA-1512415) is progressing well.
Recommendation: Hold for targets.
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.


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