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EURJPY pared some of its gains on weak Euro. It hit a low of 160.85 yesterday and is currently trading around 161.32.
Intraday bias remains bullish as long as support 160.80 holds.
Technicals-
The pair is trading above 34- and 55 EMA in the 4-hour chart.
The near-term resistance is around 161.67, a breach above targets 162/162.89. Major bullish continuation only above 163.87. The immediate support is at 160.80 any violation below will drag the pair to 160/159.85/159/158.80/158.40/157.
Indicator (15 min chart)
CCI (50)- Bullish
Average directional movement Index - Neutral. All indicators confirm a mixed trend.
It is good to buy above 161.67 with SL around 161.14 for a TP of 163.
