Chart - Courtesy Trading View
EUR/JPY was trading 0.06% lower on the day at 142.02 at around 05:00 GMT.
The pair is extending weakness for the third consecutive session, slips below 5-DMA.
GMMA indicator shows major trend is bullish, while minor trend is neutral with a bearish tilt.
Price action hovers around 200H MA and decisive break below will plummet prices further.
RSI is flat and holds above the 50 mark. While stochs are on verge of bearish rollover from overbought levels.
Price action is above cloud and major moving averages which are trending higher.
Major Support Levels:
S1: 142.01 (20-DMA)
S2: 141.55 (21-EMA)
Major Resistance Levels:
R1: 142.61 (5-DMA)
R2: 144.08 (Monthly high)
Summary: EUR/JPY downside looks limited. The pair finds strong support at 21-EMA. Further weakness only on decisive break below.
