EUR/JPY has found acceptance above a key trendline from April highs. The breakout is backed by bullish readings on key indicators. The pair could challenge the 50-day moving average hurdle in the short term. EUR/JPY is looking north, having found acceptance above key falling trendline resistance. The pair jumped 0.76% on Thursday, confirming an upside break of the trendline connecting April 17 and July 1 highs. The breakout validates the bullish higher low of 117.07 created on Oct. 7 and indicates the path of least resistance is to the higher side. The breakout is also backed by a bullish crossover on the MACD histogram and ascending 5- and 10-day moving averages. As a result, a convincing break above 119.00 could be in the offing. On the higher side, key resistance is seen at 119.86 (50-day moving average). The bullish outlook would be invalidated if the pair falls back below the trendline. That could happen if the ongoing US-China trade talks end on a sour note, triggering a flight to safety. As of writing, the pair is trading at 118.94, representing marginal gains on the day. Daily chart Trend: Bullish Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Forex News Today: Daily Trading News share Read Next AUD/USD sits near weekly tops, challenging 0.6770-75 supply zone FX Street 4 years EUR/JPY has found acceptance above a key trendline from April highs. The breakout is backed by bullish readings on key indicators. The pair could challenge the 50-day moving average hurdle in the short term. EUR/JPY is looking north, having found acceptance above key falling trendline resistance. The pair jumped 0.76% on Thursday, confirming an upside break of the trendline connecting April 17 and July 1 highs. The breakout validates the bullish higher low of 117.07 created on Oct. 7 and indicates the path of least resistance is to the higher side. The breakout is also backed by… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.