Chart - Courtesy Trading View
Technical Analysis:
- EUR/JPY was trading 0.52% higher on the day at 141.76 at around 11:00 GMT
- The pair is extending the bull run for the 9th consecutive session, hits fresh 7-year high above 142 handle
- Price action is above cloud, Chikou span is biased higher
- Momentum is bullish, oscillators are at overbought, but no signs of reversal seen
- Volatility is high, major moving averages are trending higher
Support levels - 140.17 (5-DMA), 138.44 (200H MA), 137.80 (21-EMA)
Resistance levels - 142.25 (Upper W BB), 143, 145.32 (Jan 2015 high)
Summary: EUR/JPY has erased some gains for the day and has slipped lower from session highs at 142.05. Outlook remains bullish.
