FxWirePro: EUR/JPY resumes upside after a brief pause, trades above 200-month MA, jump till 132.05 likely

EUR/JPY chart - Trading View 

EUR/JPY was trading 0.27% higher on the day at 130.47 at around 09:45 GMT, bias bullish.

The pair has resumed upside after a brief pause and a Dragonfly Doji formation on the previous session's candle aids upside.

The common currency buoyed across the board on reports that the EU may hit vaccination target earlier than projected.

A stronger Eurozone Sentix investor confidence index, which jumped to 13.1 for April, further underpinned the euro.

Meanwhile, the Unemployment Rate in the euro area failed to meet expectations and stayed put at 8.3% during February.

Support levels - 130.15 (5-DMA), 129.64 (20-DMA), 129.49 (21-EMA)

Resistance levels - 130.30 (200-month MA), 130.96 (Upper W BB), 132.05 (76.4% Fib)

Summary: Technical bias for the pair is majorly bullish. Pullbacks have been shallow. Price action is attempting break above 200-month MA. Scope for test of 76.4% Fib at 132 levels.