EURJPY declined slightly after upbeat US jobs data. It continues to be bullish so long as it's miles above 184. Having attained an intraday high of 186.20, it now hovers about 186.16.
Technical Analysis:
The EUR/JPY pair is below 55 EMA, above 200, and above 365-H EMA on the 4-hour chart.
- Near-Term Resistance: Around 186.20,a breakout here could lead to targets at 186.5/187/188.
- Immediate Support: At 185, if breached, the pair could fall to 184.60, 184/183.65/183/182.48/181.80/180.80/180.
Indicator Analysis (4- hour chart): - CCI (50): Neutral
- Average Directional Movement Index: neutral
Overall, the indicators suggest a mixed trend
Trading Recommendation:
It is good to buy on dips around 185 with a SL around 184 for a TP of 187.25/188.
