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EUR/JPY Dips After 180 Tease: Buy the Pullback to 178, Target 180

EURJPY showed a minor profit-booking after forming a temporary top of 179.975. Intraday remains bullish as long as support 178.40 holds. 

Technical Analysis:

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

  • Near-Term Resistance: Around 180, a breakout here could lead to targets at 183/185.
     
  • Immediate Support: At 178.80, if breached, the pair could fall to 178.40/178/177.25/176/175.20/174.60/174/173.

    Indicator Analysis  (1-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 178 with stop loss at 177.25 for a TP of 180.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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