EUR/JPY chart - Trading View
Technical Analysis: Bias Bullish
- EUR/JPY spikes over 0.55% to hit 6-week high above 130 handle
- Price action has broken above daily Ichimoku cloud and channel top
- The pair is extending break above 200-DMA and has edged above 20-week MA
- Stochs and RSI are sharply higher, momentum is with the bulls, volatility is high
- MACD confirms bullish crossover on signal line and ADX supports gains
Support levels - 130.50 (Channel top), 130.29 (38.2% Fib), 129.78 (200-DMA)
Resistance levels - 131.02 (50% Fib), 131.75 (61.8% Fib), 132
Summary: EUR/JPY has broken above daily cloud and is attempting a channel breakout. Technical bias for the pair remains bullish. Scope for test of 131.75 (61.8% Fib), Bullish invalidation only on retrace below 200-DMA.
