EUR/JPY chart - Trading View
EUR/JPY has taken out fresh highs as the single currency remains bid on EU summit outcome.
The compromise struck by the EU leaders on the EU recovery plan seems to have buoyed positive sentiment.
That said, a consensus on the recovery plan would convince the markets of solidarity amongst the EU member states.
EUR/JPY was trading 0.09% higher on the day at 123.21 at around 06:15 GMT, extending gains for the 5th straight session.
Price action has broken above weekly cloud and 110W EMA. Technical indicators for the pair show scope for further upside.
Oscillators are biased higher on both the daily and weekly charts. Retrace from multi-month highs has bounced off 200-DMA support.
The pair has tested 123.22, 38.2% Fib retracement of Jan 2018 high (137.506) and May 2020 low (114.397).
Next bull target lies at 200W SMA at 124.71. Pullbacks likely on account of overbought oscillators. Bullish invalidation only below 200-DMA.
Major Support - 122.30 (110W EMA)
Major Resistance - 123.22 (38.2% Fib retracement of 137.506 and 114.397)


FxWirePro- Major Crypto levels and bias summary
FxWirePro: USD/ZAR bears maintain upper hand
Aussie-Yen Pulls Back to 114 — But Bulls See a Dip-Buying Run to 117
NZDJPY Bulls Reload: Why 93.50 Is the Line in the Sand for a Run to 97
GBPJPY Claims 215: Sterling Bulls Forge Ahead with Locked-In Momentum
FxWirePro: EUR/AUD jumps as payrolls surprise fuels upside
FxWirePro: GBP/NZD stuck in narrow range , outlook bearish
NFP Shockwave Wipes Out EURUSD Gains as King Dollar Roars Back; Bears Target 1.1525
FxWirePro: GBP/NZD climbs as robust U.S. employment figures triggers renewed buying interest.
FxWirePro: EUR/ NZD bulls gain momentum,eyes level 2.0000
EUR/USD Under Siege: Bearish EMA Stack Eyes 1.1525 as Iran Ceasefire Talks Crumble
FxWirePro- Major Crypto levels and bias summary
EURJPY Dips on NFP Firepower But Stays Bullish Above 184—Load Up Near 185 for a Run to 188
FxWirePro: USD/JPY on nervous hold around 160.00
FxWirePro: USD/CAD extends gains as U.S. dollar gains momentum after strong U.S. NFP data
FxWirePro: GBP/AUD bulls gain momentum on hot U.S. Jobs data 



