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Chart - Courtesy Trading View
Technical Analysis: Bias Bullish
- EUR/JPY was trading 0.56% higher on the day at 139.50 at around 11:20 GMT
- The pair has resumed upside after a brief pause on Wednesday's trade, hit fresh 7-year high
- Price action is extending break above 200-month MA, scope for further gains
- GMMA indicator shows major and minor trend are bullish, volatility is high
Support levels - 139, 138.11 (5-DMA), 136.10 (20-DMA)
Resistance levels - 140, 141.05 (June 2015 high), 142
Summary: EUR/JPY trades with a bullish bias. Oscillators are at overbought levels, but no signs of reversal seen. Scope for test of fresh highs.
