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Chart - Courtesy Trading View
Technical Outlook:
- EUR/JPY was trading 0.64% higher on the day at 140.30 at around 11:00 GMT
- The pair has resumed upside after a brief pause on Thursday's trade
- Price action has edged above daily cloud, Chikou span is biased higher
- Momentum is bullish, volatility is high and rising
- GMMA indicator shows minor trend is bullish, while major trend is turning bullish
Support levels - 139.39 (5-DMA), 138.04 (55-EMA)
Resistance levels - 141, 142, 142.32 (July 21 high)
Summary: EUR/ JPY break above daily cloud has raised scope for further upside. Weakness only below daily cloud.
