Refer EUR/JPY chart on Trading View
- EUR/JPY extends gains for the 4th straight session, trades 0.28% higher at 128.75 at the time of writing.
- German manufacturing PMIs were largely inline with expectations. While, Eurozone consumer confidence drops more than expected to -1.9 vs. forecasts for drop to -0.7.
- Price action has is extending gains above 128 handle and has tested 50-DMA resistance at 128.91.
- Technical indicators have turned bullish. Stochs are biased higher and RSI has edged above 50 level.
- The pair has broken into daily cloud and decisive break above 50-DMA will see continuation of upside.
- We see scope for test of 38.2% Fib at 129.54 ahead of cloud top at 130.04. Weakness only on close below 5-DMA.
Support levels - 128.30 (cloud base), 128.02 (21-EMA), 127.87 (5-DMA)
Resistance levels - 128.91 (50-DMA), 129.54 (38.2% Fib)
Call update: Our previous call (https://www.econotimes.com/FxWirePro-EUR-JPY-consolidates-above-21-EMA-eyes-50-DMA-at-12890-stay-long-1419306) has hit TP1.
Recommendation: Book partial profits at highs. Watch for break above 50-DMA for further upside.
FxWirePro Currency Strength Index: FxWirePro's Hourly EUR Spot Index was at 38.3912 (Neutral), while Hourly JPY Spot Index was at -96.6387 (Bearish) at 0800 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.


NZD/JPY Rockets as Kiwi Dollar Resilience Defies the Oil Shock
FxWirePro: USD/ZAR slips sharply lower as US-Iran ceasefire lifts risk appetite
FxWirePro- Major Pair levels and bias summary
FxWirePro: AUD/USD edged lower as early optimism over U.S.–Iran peace talks fade
Bitcoin Breaks the $70,000 Barrier: Bulls Target the $80,000 Horizon as Geopolitical Relief Ignites Crypto Markets
Ethereum’s Healthy Correction: Bulls Eye Strategic Re-Entry at 2,150 USD Following Profit-Booking Pullback
Aussie Bulls Charge: AUD/JPY Rallies as Geopolitical Clouds Part
FxWirePro: GBP/USD climbs to 4 -week high as ceasefire deal gives bulls traction
FxWirePro: EUR/NZD remains under pressure as key support gives way
FxWirePro: AUD/USD spikes as Trump announces two-week Iran ceasefire
FxWirePro: USD/JPY steadies around 158.75, bias bullish
FxWirePro -Major European Indices
Kiwi Ascendant: NZDJPY Bulls Eye Multi-Year Peaks Amid Triple-Day Rally
FxWirePro:NZD/USD jumps as RBNZ warns of higher OCR potential
FxWirePro- Major Crypto levels and bias summary
FxWirePro: USD/ JPY slips as yen rallies after Mideast ceasefire declaration 



