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  |   Technicals


FxWirePro: EUR/JPY Daily Outlook

Chart - Courtesy Trading View 

EUR/JPY was trading 0.14% lower on the day at 141.54 at around 16:30 GMT.

The pair has bounced off 110-EMA and daily cloud support and is testing 20-DMA resistance.

Price action has edged above 200-DMA and GMMA indicator shows a bullish shift.

Stochs are showing a bullish rollover from oversold levels. RSI is above the 50 mark.

Momentum is turning bullish. Volatility is high as evidenced by wide Bollinger bands.

Major Support Levels: 

S1: 140.62 (23.6% Fib)

S2: 140.31 (5-DMA)

Major Resistance Levels: 

R1: 141.94 (20-DMA)

R2: 142

Summary: EUR/JPY pivotal at 20-DMA. Watch out for decisive break above for upside continuation. 

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