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EURJPY Breaks the 185 Ceiling: EMA Trifecta Backs a Bullish Run to 187

EURJPY gained above the 185 level after a long consolidation. It continues to be bullish so long as it's miles above 184. Having attained an intraday high of 185.08, it now hovers about 185.03

Technical Analysis:

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

  • Near-Term Resistance: Around 185.25, a breakout here could lead to targets at 185.60/186.25/187.
     
  • Immediate Support: At 184, if breached, the pair could fall to 183.65/183/182.48/181.80/180.80/180.

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

    Overall, the indicators suggest a weak trend

Trading Recommendation:

It is good to buy on dips around 184.80-85 with a SL around 184  for a TP of 187.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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