FxWirePro: EUR/JPY finds stiff resistance at 114.50, good to long on break above

• EUR/JPY hovers around stiff trendline resistance at 114.50, break above could see further upside.
   
• On weekly charts, Stochs have rolled over from oversold territory and 4H charts show scope building for upside in the pair.
   
• Risk-on sentiment appears back in vogue amid higher Asian equities and broad-based commodities’ rally, likely to weigh on Yen demand. 
   
• Nothing major on the data front today, we have Eurozone Sentix Index and Producer Prices which could have some impact on the pair.
   
• Support on the downside seen at 114.24 (5-DMA), 114 and then 113.98 (session lows).
   
• On the flipside, resistance is seen at 114.50 (trendline), 115 and then 115.34 (10-DMA).
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Recommendation:  Good to go long on break above 114.50, SL: 114, TP: 115/ 115.35