Chart - Courtesy Trading View
Technical Analysis:
- EUR/JPY was trading 0.42% lower on the day at 142.86 at around 11:20 GMT
- The pair has failed to build on to previous session's gains, resumes weakness below 5-DMA
- RSI and Stochs confirm bearish rollover from overbought levels, bias is lower
- Price action has slipped below 200H MA on the intraday charts
- GMMA indicator shows major trend is bullish, while minor trend is turning bearish
Support levels:
S1: 142
S2: 141.12 (21-EMA)
Resistance levels:
R1: 143
R2: 143.55 (5-DMA)
Summary: EUR/JPY poised for more downside. Upside remains capped at 5-DMA, scope for dip till 21-EMA at 141.12.
