Chart - Courtesy Trading View
Technical Analysis: Bias Bullish
- EUR/JPY has resumed upside after a brief pause in the previous session
- The pair was trading 0.28% higher on the day at 129.74 at 11:25 GMT
- Momentum studies are bullish, Stochs and RSI are sharply higher
- Price action has broken above 21-week EMA, and 110-EMA
- Volatility is high and rising as evidenced by widening Bollinger bands
Support levels - 129.70 (110-EMA), 129.54 (21-week EMA), 129.36 (55-EMA)
Resistance levels - 130, 130.21 (daily cloud), 130.45 (200-DMA)
Summary: EUR/JPY trades with a bullish bias, scope for further upside. Next major bull target lies at 130.45.
