EUR/JPY chart - Trading View
EUR/JPY extends bull run for the 6th straight month, was trading 0.09% higher on the day at 131.53 at around 09:40 GMT.
The single currency holds marginal gains as markets await ECB President Lagarde’s speech. The pair is consolidating previous session's gains and outlook remains bullish.
Price action has edged above crucial resistance at 200-month MA at 130.30, raising scope for further gains.
Technical indicators are showing a bullish shift. MACD shows a bullish crossover on signal line and +ve DMI dominance adds to the bullish bias.
Monthly close above 200-month MA will give extra wings to the bulls. Immediate resistance is seen at 76.4% Fib at 132.05.
Failure to hold above 200-month MA will negate any bullish bias. Major reversal only below daily cloud.
