EUR/JPY breaks above 50-day MA at 114.45, good to go long
EUR/JPY extends gains after gap-up open, intraday bias higher.
EUR/JPY has broken its month-long consolidation phase and edges higher.
The pair has broken above 50-DMA,we see scope for test of 114.81 ((Aug 2nd high), 115.50 (June 16th low) and then 116 levels.
The pair is major support by 20-DMA at 113.30 and further below at 113.10 (rising trendline).
Weakness only on break below 20-DMA, test of 112.36 then likely.
Good to go long on dips, SL: 113.30, TP: 114.81/ 115/ 115.50
EUR/JPY has broken its month-long consolidation phase and edges higher.
The pair has broken above 50-DMA,we see scope for test of 114.81 ((Aug 2nd high), 115.50 (June 16th low) and then 116 levels.
The pair is major support by 20-DMA at 113.30 and further below at 113.10 (rising trendline).
Weakness only on break below 20-DMA, test of 112.36 then likely.
Good to go long on dips, SL: 113.30, TP: 114.81/ 115/ 115.50
Book partial profits.
Bias remains higher.