FxWirePro: EUR/JPY Daily Outlook

Chart - Courtesy Trading View 

EUR/JPY was trading 0.06% lower on the day at 143.34 at around 10:17 GMT, outlook remains bullish.

The pair trades in a 'Symmetric Triangle' pattern and is consolidating break above daily cloud. 

Price action is consolidating break above daily cloud, has edged above 200H MA, scope for further upside.

GMMA indicator shows minor trend is bullish, while major trend is turning bullish. Momentum is bullish and volatility is high and rising. 

On the On the Eurozone data front, investors are focusing on the S&P Global PMI numbers, which will release on Tuesday. 

The Manufacturing PMI is seen higher at 49.3 against the former release of 48.8. While the Services PMI is expected to improve to 51.1 from the prior release of 50.8.

Support levels - 143.19 (5-DMA), 141.88 (21-EMA)

Resistance levels - 143.69 (Upper BB), 144.65 (Triangle top)

Summary: EUR/JPY trades with a bullish bias. The pair is on track to test Triangle top at 144.65. Bullish invalidation below daily cloud.