EURJPY: Bullish Bias Intact – Scoop Dips at 177.20, Aim for 180

EURJPY pared some of its gains on a weak Euro. Intraday remains bullish as long as support 176.60 holds. 

Technical Analysis:

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

• Near-Term Resistance: Around 178,a breakout here could lead to targets at 179/180/183.
   
• Immediate Support: At 177.20, if breached, the pair could fall to 176.60/175.70/175.20/174.60/174/173.
  
  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 177.20-25 with a stop loss at 176.60 for a TP of 180..