Chart - Courtesy Trading View
Technical Analysis: Bias Bearish
- EUR/JPY was trading 1.13% lower on the day at 139.75 at around 13:40 GMT
- Recovery attempts in the pair have been capped at 5-DMA which is trending lower
- MACD is on verge of bearish crossover on signal line, Chikou span is biased lower
- Momentum is bearish. RSI confirms bearish rollover from overbought levels
- Price action has slipped below 200H MA and GMMA indicator shows major and minor trend are bearish
Support levels - 139.05 (21-EMA), 138.30 (20-DMA)
Resistance levels - 141.08 (200H MA), 141.86 (5-DMA)
Summary: EUR/JPY trades with a bearish bias. Scope for test of 20-DMA at 138.30.
