Technicals

Add as a preferred source on Google

FxWirePro: EUR/JPY bounces off 21-EMA support, outlook bullish as long as pair holds above 200W MA

EUR/JPY chart - Trading View EUR/JPY was trading 0.54% higher on the day at 126.80 at around 09:40 GMT. The pair is set to resume upside after consolidating major trendline breakout. Technical studies support gains in th…

1 min read
FxWirePro: EUR/JPY bounces off 21-EMA support, outlook bullish as long as pair holds above 200W MA
Image from the original EconoTimes article

Read the original article

EUR/JPY chart - Trading View 

EUR/JPY was trading 0.54% higher on the day at 126.80 at around 09:40 GMT.

The pair is set to resume upside after consolidating major trendline breakout.

Technical studies support gains in the pair. Volatility is high and rising as evidenced by widening Bollinger bands.

Analysis of GMMA indicator shows major and minor trend are bullish on the daily and weekly charts.

Price action is above daily cloud and Chikou span is biased higher, suggesting further gains.

Scope for test of 61.8% Fib at 128.67. Bullish invalidation seen only on retrace below 200W MA.
 

Related articles

View all
Technicals

Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560