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EUR/JPY chart - Trading View
EUR/JPY extends previous session's gains, trades 0.36% higher at 123.44 at around 09:00 GMT.
Pullback has found support at 110-EMA (currently at 122.75), weakness only on break below.
Price action has retraced into daily cloud and has broken above 200H MA. Scope for further upside.
Resistances are located at 55-EMA at 123.90, 21-EMA at 124.04 and 20-DMA at 124.37. Decisive break above 20-DMA will confirm upside resumption.
On the flipside, supports are located at 200H MA at 123.15, 110-EMA at 122.75 and lower Bollinger band at 122.06.
Major trend is neutral, while minor trend is turning bullish. Watch out for break above 55-EMA for further gains.
