EUR/JPY chart - Trading View
EUR/JPY was trading 0.21% higher on the day at 127.01 at around 07:30 GMT, after closing 0.38% higher in the previous session.
The pair is extending gains above 200W MA, is rising for the 4th straight session and outlook is bullish.
Analysis of GMMA indicator shows major and minor trend on the daily and weekly charts is strongly bullish.
Bullish momentum and rising volatility on the weekly charts likely to drive further gains in the pair.
Price action has broken out of consolidation phase and is on track to test 61.8% Fib retracement at 128.67.
5-DMA is immediate support at 126.44. Bullish invalidation only below 200W MA at 125.34.
