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.