FxWirePro
Long

EUR/JPY breaks above 20-DMA at 113.71, long dips for 114.40

FX:EURJPY   Euro Fx/Japanese Yen
147 0 11
EUR/JPY             trades lower after gap-up open on Monday as Yen remains broadly weaker on dovish Kuroda's comments.

Yen subdued on BOJ Governor Kuroda’s comments delivered over the weekend, citing that there is still more room for monetary policy easing.

EUR/JPY             has broken major resistance by 20-DMA at 113.71, we see scope for test of next major hurdle at 114.40 (falling trendline ).

Support on the downside is seen at 113.35 (5-DMA), break below will see next major support at 112.60 (rising trendline ).

With no major data due for release today, broader market sentiment should influence the pair.

Good to long on dips around 113.60/65, SL: 113.20, TP: 114/ 114.40/ 114.80
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