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EUR/JPY chart - Trading View
EUR/JPY was extending marginal gains on the day, trading 0.08% higher at 126.42 at around 07:15 GMT.
The pair is attempting breakout at major trendline resistance at 126.20, following two week's failed attempt to break higher.
Price action is consolidating above 200W MA and any decisive close above trendline resistance at 126.20 will buoy bulls.
Analysis of GMMA indicator shows major and minor trend are bullish on the daily and weekly charts.
Momentum is bullish and volatility is high and rising. Scope for further gains as technicals support upside.
Next major bull target lies at 61.8% Fib at 128.67. 200W MA is major support at 125.27. Bullish invalidation on break below.
