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EUR/JPY Bulls Charge: Eyeing 186.00 as Euro Strength Intensifies

EURJPY gained sharply on board-based Euro strength. It continues to be bullish so long as it's miles over 182.50. Having attained an intraday high of 184.24, it now hovers about 183.89.

Technical Analysis:

The EUR/JPY pair is above 55 EMA,  200, and 365-H EMA  on the 4-hour  chart.

  • Near-Term Resistance: Around 184.65, a breakout here could lead to targets at 185/186.25/187.
     
  • Immediate Support: At 183.65, if breached, the pair could fall to 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 183.28-30 with a SL around 182.50  for a TP of 186.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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