Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

Google Add as a preferred source on Google

EUR/JPY Technical Outlook: Selling the Rallies Near 178.50 as Euro Momentum Fades

EURJPY pared most of its gains as the Euro loses momentum. Having attained an intraday high of 179.31, it now hovers around 178.29.

Technical Analysis:

The EUR/JPY pair is below the 55 EMA, below  200, 365-H EMA, and above  800- EMA  on the 4-hour chart.

  • Near-Term Resistance: Around 179.30, a breakout here could lead to targets at 180/180.78/181.55/182.
     
  • Immediate Support: At 177.80, if breached, the pair could fall to 177/176/175.

    Indicator Analysis  (4-hour chart):
     
  • CCI (50): Bearish
     
  • Average Directional Movement Index: Mixed

    Overall, the indicators suggest a mixed trend

Trading Recommendation:

It is good to sell on rallies around 178.48-50 with a SL around 179.30 for a TP of 176.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.