EUR/JPY above major moving averages, long dips for 115.65
EUR/JPY has broken above major moving averages (20,50& 100 DMAs).
Momentum studies bullish.
Scope for test of trendline at 115.65.
Good to long dips around 114.75/80, SL: 114.20, TP: 115/ 115.65
Major events ahead - Eurozone Business Climate and German inflation data
Major support levels - 114.62 (100-DMA) 114.41 (20-DMA), 114.23 (50-DMA), 114 (5-DMA), 113.70 (Oct 27 low))
Major resistance levels - 115, 115.65 (trendline), 116, 116.14 (110-EMA)
Momentum studies bullish.
Scope for test of trendline at 115.65.
Good to long dips around 114.75/80, SL: 114.20, TP: 115/ 115.65
Major events ahead - Eurozone Business Climate and German inflation data
Major support levels - 114.62 (100-DMA) 114.41 (20-DMA), 114.23 (50-DMA), 114 (5-DMA), 113.70 (Oct 27 low))
Major resistance levels - 115, 115.65 (trendline), 116, 116.14 (110-EMA)