EUR/JPY chart - Trading View
EUR/JPY has erased losses and edged higher from session lows at 119.82.
The pair was trading largely unchanged on the day at 120.25 at around 08:00 GMT, bias bearish.
Price action is below 200H MA, but is struggling to hold break below 21-EMA, finds major support at 200-DMA.
The pair is extending weakness for the 2nd straight week. MACD has confirmed a bearish crossover on signal line.
Analysis of the GMMA indicator shows major trend is bullish, while minor trend has turned bearish.
Close below 21-EMA will see dip till 200-DMA at 119.53. Violation there will plummet prices. Failure to close below 21-EMA will negate bearish bias.
Major Support - 119.18 (21-EMA)
Major Resistance - 121.46 (200H MA)
