Chart - Courtesy Trading View
Technical Analysis: Bias Bullish
GMMA Indicator
- Major trend is neutral, while minor trend is strongly bullish
Ichimoku Analysis
- Price action is testing daily cloud, break above will fuel further gains
Oscillators
- Stochs and RSI are sharply higher, momentum is bullish
- Stochs are at overbought levels, but no signs of reversal seen
Bollinger Bands
- Bollinger bands are wide and gap is widening
- Volatility is high and rising with scope to carry forward current momentum
Major Support Levels: 129.71 (110-EMA), 129.40 (55-EMA)
Major Resistance Levels: 130.46 (200-DMA), 130.70 (Cloud top)
Summary: EUR/JPY is testing cloud resistance. The pair eyes 200-DMA at 130.46. Decisive break above will fuel further upside.
