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Chart - Courtesy Trading View
Technical Analysis: Bias Neutral
- EUR/JPY was trading 0.17% higher on the day at 130.50 at around 13:30 GMT
- The pair has retraced above 200-DMA raising scope for further upside
- Price action is making higher lows and RSI nicely converges with price action
- MACD and ADX still do not support upside, price action below 200H MA
- GMMA indicator shows neutral bias on minor and major trend
Support levels - 130.38 (200-DMA), 130.21 (55-EMA), 130.08 (110-EMA)
Resistance levels - 130.78 (200H MA), 131, 131.90 (Feb 16 high)
Summary: EUR/JPY hovers around 200-DMA, decisive close above will fuel further gains.
