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Chart - Courtesy Trading View
Technical Analysis:
- EUR/JPY was trading 0.56% higher on the day at 141.35 at around 12:55 GMT
- The pair is extending break above 200-DMA
- Price action has ignored successive Inverted Hammer formations on the previous 2 sessions
- Momentum is turning bullish, Stochs and RSI are biased higher
- GMMA indicator has turned bullish on the intraday charts
Support levels - 140.53 (200H MA), 140.21 (5-DMA)
Resistance levels - 141.54 (21-EMA), 142.04 (110-EMA)
Summary: EUR/JPY poised for further upside. Price action has paused at 21-EMA resistance at 141.54, watch out for decisive break above for upside continuation.
