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EUR/JPY: Yen Flexes Muscle but 180 Support Holds the Bullish Key – Buy-the-Dip Setup Still Alive

EURJPY trades slightly weak on board-based yen buying.  As long as support 180 holds, intraday remains bullish. It hits an intraday low of 180.202 and is currently trading around 180.63.

Technical Analysis:

The EUR/JPY pair is trading below 55 EMA,  200, and  365-H EMA  on the 15-minute chart.

  • Near-Term Resistance: Around 181,a breakout here could lead to targets at 181.55/182/182.62/183/185.
     
  • Immediate Support: At 180, if breached, the pair could fall to 179.70/ 179.20/178.90/178.40/178/177.25/176/175.20.

    Indicator Analysis  (15-min chart):
     
  • CCI (50): Bearish
     
  • Average Directional Movement Index:  Neutral

Overall, the indicators suggest a mixed trend

Trading Recommendation:

It is good to buy on dips around 180.28-30 with a stop loss at 179.70 for a TP of 182.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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