EURJPY holds above 185 as the Euro gains momentum.It continues to be bullish so long as it's miles above 184. Having attained an intraday high of 185.35, it now hovers about 185.34.
Technical Analysis:
The EUR/JPY pair is above 55 EMA, 200, and above 365-H EMA on the 4-hour chart.
- Near-Term Resistance: Around 185.60, a breakout here could lead to targets at 186.25/187/188.
- Immediate Support: At 184, if breached, the pair could fall to 183.65/183/182.48/181.80/180.80/180.
Indicator Analysis (4- hour chart): - CCI (50): Bullish
- Average Directional Movement Index: Neutral
Overall, the indicators suggest a mixed trend
Trading Recommendation:
It is good to buy on dips around 185 with a SL around 184 for a TP of 187.25/188.
