EUR/JPY chart - Trading View
EUR/JPY Technical Analysis: Bias Bullish
- EUR/JPY consolidates break above 110-EMA
- Price has broken above daily cloud
- RSI is above 60, bias higher, Stochs are sharply higher
- MACD and DMI support upside
- German ZEW economic sentiment gauge - Tuesday
- Final Eurozone CPI prints for March - Wednesday
- IHS Markit’s preliminary PMI readings for April - Thursday
- Focus IHS Markit’s Eurozone preliminary PMI readings for April.
- The euro could edge higher if PMIs provide further proof of an improving economic picture.
Support levels - 126/ 125.81 (nearly converged 5-DMA and cloud), 124.77 (Apr 10 low)
Resistance levels - 127, 127.67 (200-DMA and 61.8% Fib), 128
Recommendation: Good to go long on dips, SL: 125.80, TP: 127/ 127.65/ 128
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