Chart - Courtesy Trading View
Technical Analysis:
- EUR/JPY was trading 0.27% higher on the day at 137.74 at around 06:45 GMT
- The pair is extending gains for the 5th consecutive session
- Price action has retraced above 110-EMA and is currently above 200H MA
- GMMA indicator shows major trend is neutral, while minor trend is turning bullish
- Stochs confirm bullish rollover from oversold levels, RSI is biased higher
Major Support Levels:
S1: 136.51 (5-DMA)
S2: 134.57 (Lower BB)
Major Resistance Levels:
R1: 137.97 (21-EMA)
R2: 138.42 (55-EMA)
Summary: EUR/JPY stays in the green despite Italy’s political jitters. Downbeat Japan data, weekend numbers from China appear to keep the pair supported. 21-EMA is immediate resistance at 137.96. Watch out for decisive break above for upside continuation.
