Chart - Courtesy Trading View
Technical Analysis:
- EUR/JPY finds strong support at 55-EMA and daily cloud, weakness only on break below
- Price action is now above 200H MA and hovers around 21-EMA
- Stochs and RSI have turned flat, RSI holds above 50 mark
- Spinning top formation on the previous session's candle suggests indecision
- GMMA indicator shows major and minor trend are neutral on the daily charts
Major Support and Resistance Levels:
Support - 134.94 (55-EMA), Resistance - 136.07 (20-DMA)
Summary: EUR/JPY finds strong support at 55-EMA and daily cloud, weakness only on break below. On the other side, decisive breakout above 20-DMA will push the pair higher.
