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EURJPY Breaks 180: Bulls Target Further Gains Amid Yen Weakness

EURJPY surged above 180 level on board-based yen weakness. Intraday remains bullish as long as support 177.25 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 178.50,a breakout here could lead to targets at 178.80/179/180/183.
     
  • Immediate Support: At 178.80, if breached, the pair could fall to 178/177.25/176/175.20/174.60/174/173.


Indicator Analysis  (1-hour chart):

  • CCI (50): Bullish
     
  • Average Directional Movement Index:  Bullish

Overall, the indicators suggest a bullish trend

Trading Recommendation:

It is good to buy on dips around 178 with a stop loss at 177.25 for a TP of 180.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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