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Long

EUR/JPY breaks above 50-day MA at 114.45, good to go long

FX:EURJPY   Euro / Japanese Yen
234 0 13
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
Comment: Approaching TP2 @115.

Book partial profits.

Bias remains higher.
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