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Chart - Courtesy Trading View
EUR/JPY was trading 0.24% higher on the day at 131.38 at around 16:45 GMT.
The pair is extending gains above 131 handle, outlook remains bullish.
RSI well above 60 mark, Stochs show momentum is bullish. Volatility is high and rising.
Price action has broken above 200-DMA and is extending gains above daily cloud.
Chikou span is biased higher, suggests further upside in the pair. MACD and ADX support gains.
Support levels - 131.15 (61.8% Fib), 130.79 (5-DMA)
Resistance levels - 131.57 (Upper BB), 132.04 (76.4% Fib)
Summary: EUR/JPY trades with a bullish bias. The pair has broken above 61.8% Fib and is on track to test 76.4% Fib at 132.04.
