FxWirePro: EUR/JPY fails to close below 50-DMA, bias higher

• EUR/JPY fails to close below 50-DMA, has edged higher to currently trade at 122.15.
   
• 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, 121.46 (5-DMA), 121.37 (38.2% Fib of 141.05 to 109.205 fall)
   
• Resistance levels - 122.25 (20-DMA), 123.85 (trendline), 125.13 (50% Fib)

Recommendation: Good to go long on break above 20-DMA, SL: 121.70, TP: 123/ 123.85/ 124