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  |   Technicals


FxWirePro: EUR/JPY Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis:

- EUR/JPY was trading 0.47% higher on the day at 144.03 at around 11:00 GMT

- The pair is extending gains for the 7th straight week, retakes 144 handle

- Price action is above major moving averages which are trending higher

- GMMA indicator shows major and minor trend are bullish

- MACD and ADX support upside in the pair, Chikou span is biased higher

Support levels:

S1: 143.15 (5-DMA)

S2: 142.24 (200H MA)

Resistance levels:

R1: 144.92 (Upper BB)

R2: 145.32 (Jan 2015 high)

Summary: EUR/JPY trades with a bullish bias. The pair is on track to test 2015 Jan high at 145.32. 

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