Chart - Courtesy Trading View
Technical Analysis:
- EUR/JPY was trading 0.73% higher on the day at 144.66 at around 10:10 GMT
- The pair has bounced off 55-EMA support, weakness only on break below
- Spinning top formation at 55-EMA raises scope for further upside in the pair
- Pullback on account of Bearish RSI divergence has found support at 23.6% Fib retracement
- Major trend in the pair is bullish, price action is on track to test 200H MA
Support levels - 144, 143.54 (55-EMA), 142.73 (23.6% Fib)
Resistance levels - 145.20 (21-EMA), 145.45 (200H MA), 146.08 (20-DMA)
Summary: EUR/JPY snaps 4-day bearish streak, holds support at 23.6% Fib. Technicals point to upside resumption. Weakness only below 55-EMA.
