EUR/JPY chart - Trading View
EUR/JPY was trading 0.18% lower on the day at 123.20 at around 09:50 GMT, outlook remains bearish.
The pair is extending weakness for the 5th straight session as price action consolidates below daily cloud.
MACD shows bearish crossover on signal line, ADX support downside bias. Stochs and RSI are sharply lower.
Analysis of GMMA indicator shows minor trend is strongly bearish, while major trend is turning bearish.
The pair finds minor support at 110-EMA at 123.02, break below will accentuate weakness. Next major bear target lies at 200-DMA at 121.06.
Support levels - 123.02 (110-EMA), 122.23 (38.2% Fib), 121.06 (200-DMA)
Resistance levels - 123.70 (5-DMA), 124 (21-EMA), 125.00 (Upper BB)
