FxWirePro: EUR/JPY extends sideways, finds stiff resistance at 100-DMA (133.02)

• EUR/JPY is extending sideways trade, capped between 100 and 200 DMAs.
   
• Technical indicators support upside in the pair and breakout at 100-DMA (currently at 133.02) could see further upside.
   
• RSI is above 50 and biased higher. Stochs show bullish momentum.
   
• We see +ve DMI dominance and ADX is above 25 and rising in support of the uptrend.
   
• Break above 100-DMA finds next major resistance at cloud top at 133.42. Break above cloud will propel the pair higher.
   
• On the downside, immediate support aligns at 5-DMA at 132.60 ahead of 200-DMA at 132.21.
   
• Violation at 200-DMA will see drag till major trendline support at 130.20.

Support levels - 132.60 (5-DMA), 132.24 (200-DMA), 130.80 (Apr 12 low)

Resistance levels - 133.02 (100-DMA), 133.42 (Cloud top), 134.40 (trendline)

Recommendation: Watch out for break out at 100-DMA to go long.

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