Chart - Courtesy Trading View
Technical Analysis:
- EUR/JPY was trading 0.38% higher on the day at 138.99 at around 07:30 GMT
- The pair has paused downside at cloud base support, weakness only on break below
- Momentum is bearish, Stochs are biased lower and RSI is below the 50 mark
- Price action is below 200H MA, 5-DMA is biased lower and upside remains capped at 55-EMA
- GMMA indicator shows major trend is neutral while minor trend is bearish
Support levels:
S1: 137.19 (110-EMA)
S2: 136.86 (Lower BB)
Resistance levels:
R1: 139.10 (55-EMA)
R2: 139.99 (200H MA)
Summary: EUR/JPY pivotal at cloud base support. Break below will see extension of downside.
