EURJPY broke significant resistance at 174 after a long consolidation. The euro gained momentum and reached its three-and-a-half-year high against the US dollar. It hits an intraday high of 174.09 and is currently trading at approximately 174.06. Intraday outlook remains bullish as long as support at 173 holds.
Technical Analysis:
The EUR/JPY pair is trading above 55 EMA, above 200 and 365-H EMA on the 4-hour chart.
- Near-Term Resistance: Around 174.20,a breakout here could lead to targets at 174.38/175/176.
- Immediate Support: At 173, if breached, the pair could fall to 172.50-/171.80/170.80/169.70/169/168.70/168.45/168.
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 173.68-70 with stop loss at 173 for a TP of 175.


FxWirePro: USD/CNY dips as dollar weakens on US-Iran escalation
FxWirePro: GBP/USD cedes early gains ,outlook bearish
AUD/JPY: Bullish Momentum Continues in JPY Major Pairs
FxWirePro: GBP/AUD stuck in range but maintains bearish bias
FxWirePro: USD/JPY dips as Yen firms on BOJ rate-hike bets
FxWirePro: EUR/NZD neutral in the near term, scope for downward resumption
FxWirePro: USD/ZAR bears maintain upper hand
FxWirePro:EUR/NZD gains some ground but outlook is bearish
FxWirePro: GBP/AUD dips below 1.9000 level , vulnerable to more downside
FxWirePro: EUR/ AUD gains slightly but remains on bearish path
FxWirePro: NZD/USD edges higher ahead of RBNZ decision
FxWirePro: USD/CAD rises above 1.3900 level after Warsh's Jackson hole speech
AUD/JPY Faces Downside Pressure Amidst Australian Dollar Weakness
Bitcoin Dips Before the Flip: Whales Load Up $3B as $80K Rebound Looms
FxWirePro- Major Pair Currency Score (AUDUSD Bullish) 



