EUR/JPY is dominated by the bulls with some corrective movements on the road

The EUR/JPY is very strong and solid in the bullish trend, which is very normal current corrective movements.

This pair is consolidating above support at 142.18 level. Now it is very likely to go up to the weekly resistance level of 142.80. Moreover, if this pair does break the support at the level of 142.18, it is expected to fall to the weekly pivot level of 141.85. However, the EUR/JPY remains very bullish, so we recommend just putting orders in favor of the trend.

The MACD indicator is in extreme overbought zone and entering negative territory.

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