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EURJPY Crushed by Safe-Haven Rush – Bears Lock In Below 183.20

EURJPY pared most of its gains as demand for safe-haven assets increased. As long as it stays under 183.20 pair remains bearish. After striking a low of 182.17, it is now about 182.19.

Technical Analysis:

The EUR/JPY pair is below  55 EMA,  200, and 365-H EMA  on the 1-hour  chart.

  • Near-Term Resistance: Around 182.60, a breakout here could lead to targets at 183/183.25/183.60/184.35/184.92/186/187/188.69.
     
  • Immediate Support: At 182.20, if breached, the pair could fall to 181.80/180.80/180.

    Indicator Analysis  (1- hour chart):
  • CCI (50): Bearish
     
  • Average Directional Movement Index:  Bearish

    Overall, the indicators suggest a bearish trend

Trading Recommendation:

It is good to sell on rallies around 182.58-60 with a SL around 183.20 for a TP of 180.

 

 

 

 

 

 

 

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