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EURJPY Dips But Bulls Still in Control: Buy the Pullback to 180, Target 183 While 179.50 Holds

EURJPY pared some of its gains as the yen gained momentum. As long as support 179.50 holds, intraday remains bullish.

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 180.70, a breakout here could lead to targets at 181.30/182/182.62/183/185.
  • Immediate Support: At 180, if breached, the pair could fall to 179.45/179.20/178.90/178.40/178/177.25/176/175.20.

    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 180.18-20 with a stop loss at 179.50 for a TP of 183.

 

 

 

 

 

 

 

 

 

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