EUR/JPY chart - Trading View
EUR/JPY was trading 0.27% higher on the day at 131.18 at around 15:55 GMT, outlook remains bearish.
The pair is on a downward spiral for the 4th consecutive week, pauses downside shy of 200-DMA.
Technical indicators are biased lower. Stochs and RSI are sharply lower, RSI is below 50.
Upside is capped at 21-EMA at 131.46, the pair slips lower from session highs at 131.41.
Price action is below 200H MA. GMMA indicator is showing a bullish shift on the intraday charts.
Support levels - 130.87 (55-EMA), 130.50 (110-EMA), 130.41 (200-DMA)
Resistance levels - 131.58 (200H MA), 131.75 (61.8% Fib), 132.04 (20-DMA)
Summary: EUR/JPY recovery lacks traction. More weakness on cards. Test of 200-DMA likely. Break below to plummet prices.
