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Chart - Courtesy Trading View
Technical Analysis:
- EUR/JPY was trading 0.21% higher on the day at 141.74 at around 15:20 GMT
- The pair has broken above 21-EMA raising scope for further upside
- MACD confirms bullish crossover on signal line, Chikou span is biased higher
- Momentum has turned bullish, Stochs and RSI are biased higher
- Price action is above 200H MA, GMMA indicator has turned bullish on the intraday charts
Support levels - 140.95 (5-DMA), 140.40 (200H MA)
Resistance levels - 142.04 (110-EMA), 142.56 (55-EMA)
Summary: EUR/JPY has retraced dip below 200-DMA. Break above 21-EMA will fuel further upside. Test of daily cloud likely in the coming sessions.
