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  |   Technicals


FxWirePro: EUR/JPY breaks above 20-DMA, outlook bullish

Chart - Courtesy Trading View 

Technical Analysis:

- EUR/JPY was trading 0.52% higher on the day at 142.78 at around 06:10 GMT

- The pair has broken above 20-DMA which was capping upside from the past few sessions

- GMMA indicator shows major and minor trend are strongly bullish

- MACD is on verge of bullish crossover on signal line

- Price action is above daily cloud, Chikou span is biased higher

Major Support Levels: 

S1: 141.72 (5-DMA)

S2: 141.18 (21-EMA)

Major Resistance Levels: 

R1: 143

R2: 144.31 (Upper W BB)

Summary: EUR/JPY is extending gains for the second straight session, technical indicators point to further upside. Scope for fresh yearly highs above 145.63.

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