FxWirePro: EUR/JPY extends gains above 125 handle, stay long on close above 21-EMA

EUR/JPY chart on Trading View used for analysis

• EUR/JPY is extending gains above 125 handle, bias neutral.
   
• The pair is trading 0.22% higher on the day at 125.18 at 0955 GMT.
   
• Major trend in the pair is bearish. Decisive break above 21-EMA could see upside till 55-EMA at 126.28.
   
• Immediate support is seen at 5-DMA at 124.74. Break below will see test of 20-DMA at 124.35.
   
• The upcoming EU parliamentary elections (May) should start to grab extra attention in the next weeks

Support levels - 124.74 (5-DMA), 124, 123.33 (23.6% Fib)

Resistance levels - 125.96 (38.2% Fib), 126.28 (55-EMA), 127.50 (110-EMA)

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.