Chart - Courtesy Trading View
Technical Analysis: Bullish
- EUR/JPY was trading 0.53% higher on the day at 137.88 at around 12:30 GMT
- The pair is extending gains for the fourth straight session, outlook is bullish
- Pullback on account of bearish RSI divergence has retraced above 21-EMA
- Price action is above daily cloud and Chikou span is biased higher
- 21-EMA is offering strong support, weakness only on break below
Support levels:
S1: 137.19 (5-DMA)
S2: 136.62 (21-EMA)
Resistance levels:
R1: 139.25 (Upper BB)
R2: 140.00 (Apr 21 high)
Summary: EUR/JPY poised for further gains. Scope for test of 140 levels. Bullish invalidation below 21-EMA.
