ETH/EUR upside capped by daily Kijun-Sen, break above targets 12.17/13

ETH/EUR is seen trading well above in green on Friday. The pair has broken major resistance around 10.74 (21 day MA) and jumped till 11.40 levels (KRAKEN). It is currently trading at 10.72 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 9.78

Kijun-Sen level: 11.47

Trend reversal level - (90 4H MA) – 10.46

The long-term and short-term trend remains to be bullish. In daily chart ETH/EUR faces strong resistance at 11.47 (daily Kijun-Sen) and break above targets 12.17 (61.8% retracement of 14.38 and 8.55)/13.

Major resistance is seen at 11.47 (daily Kijun-Sen) and any break above that level will take the pair till 12.17 (61.8% retracement of 14.38 and 8.55)/13. Short-term support can be noticed at 9.78 (daily Tenken-Sen) and any violation below will drag the pair till 8 (May 6th low)/7.44 (200 day MA).