Chart - Courtesy Trading View
EUR/JPY was trading 0.80% lower on the day at 138.32 at around 10:00 GMT. The pair has broken below 50-DMA and 23.6% Fib, further weakness on cards.
Technical Analysis:
- MACD and ADX support downside
- Momentum is bearish and volatility is high
- GMMA indicator shows minor trend has turned bearish
- Price action is below 200H MA, has slipped below 23.6% Fib
Major Support Levels:
S1: 136.66 (38.2% Fib)
S2: 136.56 (110-EMA)
Major Resistance Levels:
R1: 139.02 (55-EMA)
R2: 140.94 (21-EMA)
Summary: EUR/JPY trades with a bearish bias, the pair is on track to test 38.2% Fib at 136.66.
