EURJPY Climbs Above 185.50 on Euro Buying: Bullish Momentum Intact, Buy Dips Toward 187

EURJPY gains above 185.50 on board- based Euro buying. It continues to be bullish so long as it's miles above  184. Having attained a high of 185.77, it now hovers about 185.64.

Technical Analysis:

The EUR/JPY pair is above  55 EMA,  200, 365-H EMA, and 800- EMA  on the 60-min  chart.

• Near-Term Resistance: Around 186.30, a breakout here could lead to targets at 187/188.
   
• Immediate Support: At 184.80, if breached, the pair could fall to 184/183.65/183/182.48/181.80/180.80/180.
  
  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 185.28-30 with a SL around 184.50  for a TP of 187.