FxWirePro: EUR/JPY edges above 20-DMA, close above could see grind higher

• EUR/JPY has reclaimed 20-DMA after it failed to close below 50-DMA.
   
• The pair is rangebound on the day, has edged higher to currently trade at 122.53.
   
• The pair finds stiff resistance at 122.25 (20-DMA), upside struggling to extend gains beyond.
   
• Break above 20-DMA could see test of 123.85 (major trendline).
   
• Further bullishness could see 125.13 (50% Fib of 141.05 to 109.205 fall).
   
• Support levels - 122, 121.69 (5-DMA), 121.37 (38.2% Fib of 141.05 to 109.205 fall)
   
• Resistance levels - 122.61 (Weekly 5-MA), 123.85 (trendline), 125.13 (50% Fib retrace of 141.05 to 109.20 fall)
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Recommendation: Good to go long on break above 20-DMA, SL: 121.70, TP: 123/ 123.85/ 124