EUR/JPY chart - Trading View
EUR/JPY was trading 0.23% lower on the day at 115.49 at around 09:06 GMT, after closing 0.37% lower in the previous session.
The pair is extending weakness for the 3rd straight session after upside was rejected at 21-EMA.
Technical studies for the pair support more weakness. Stochs and RSI are biased lower and MACD is in the negative zone.
Analysis of the GMMA indicator shows major trend has been strongly bearish, while minor trend has turned bearish after rejection at 21-EMA.
The pair is on track to test major trendline support at 114.40. Further weakness will see dip till 88.6% Fib at 112.43.
On the flipside, 21-EMA is strong resistance at 116.28, any upside only on decisive break above.
