09:20, 23 January

EURJPYU Daily Analysis

The EURJPY pair traded in the green in the last session and closed at 136.01, after hitting a high at 136.15. As of now, the  daily momentum oscillators are tranquil at a higher level above their midlines, hinting the presence of bullish momentum in the pair. In addition, the 2H & 4H momentum oscillators are trading with a bullish tone, further supporting the above outlook. Key resistance is  placed  at  the  136.31/35  level,  followed  by  the  daily  upper  Bollinger  Band  (currently  placed  at  136.63/65)  and  the 136.96/137.00  level.  A  surge  above  the  latter  might  trigger  further  positive  momentum  in  the  pair.  On  the  contrary,  crucial support is seen at the 2H 50SMA (currently trading at 135.71/70), followed by the 4H 50SMA (currently placed at 135.38/35) and the 134.97/95 level. A move back below the latter might lead to negativity in the pair.