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FxWirePro: EUR/JPY extends break above 200-DMA, eyes trendline resistance at 130.55

EUR/JPY chart - Trading View 

Technical Analysis: Bias Bullish

- EUR/JPY was trading 0.35% higher on the day at 130.25 at around 12:25

- The pair is extending break above 200-DMA, outlook bullish

- Momentum is bullish, RSI is above 50, Stochs and RSI are biased higher

- MACD confirms bullish crossover on signal line, ADX supports upside

Support levels - 129.88 (110-EMA), 129.53 (5-DMA), 129.44 (21-EMA)

Resistance levels - 130.55 (Trendline), 130.80 (Cloud top), 131

Summary: EUR/JPY extends break above 200-DMA, momentum is strongly bullish. Scope for test of trendline resistance at 130.55. Break above will fuel further gains. Next hurdle lies at cloud top at 130.80.
 

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