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EUR/JPY Pullback Alert: Bullish Momentum Intact for 185 Breakout

EURJPY is consolidating in a narrow range after a minor pullback. It continues to be bullish so long as it's miles above 183. Having attained an  intraday high of 183.90, it now hovers about 183.88.

Technical Analysis:

The EUR/JPY pair is  above   55 EMA,  200, 365-H EMA and below 800- EMA  on the 1-hour   chart.

  • Near-Term Resistance: Around 185,a breakout here could lead to targets at 186/187.
     
  • Immediate Support: At 184, if breached, the pair could fall to 183/182.15/181.60/180.80/180.

    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 183.78-80 rallies around 183 with  a SL around 182  for a TP of 185.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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