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EUR/JPY chart - Trading View
Spot Analysis:
EUR/JPY was trading 0.09% higher on the day at 130.39 at around 07:00 GMT.
The pair closed 0.19% higher on Friday's trade and 0.93% higher in the previous week.
At the time of writing, session high was 130.48 and low was at 130.11.
Data Releases:
No major data scheduled for release today from the euro area.
Technical Overview:
- Price action has edged above the crucial 200-month MA resistance at 130.32
- Volatility is high and momentum is strongly bullish, which could drive prices higher
- Analysis of GMMA indicator shows major and minor trend are strongly bullish
- Oscillators on the daily and weekly charts are at overbought levels, but no major signs of reversal seen
| Support | 129.80 (5-DMA) | 128.82 (21-EMA) |
| Resistance | 130.32 (200-month MA) | 132.56 (78.6% Fib) |
Summary: EUR/JPY pivotal at 200-month MA resistance. Technical indicators are supporting further gains. Watch out for decisive break above 200-month MA for bullish continuation. Next major bull target lies at 132.56 (78.6% Fib).
