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EURJPY is now rising for the fifth day straight following a low at 182.03. It stays bullish as long as it's miles above 184. Having reached a peak of 185.98, it hovers about 185.74 right now.
Technical Analysis:
The EUR/JPY pair is above 55 EMA, 200, and above 365-H EMA on the 4-hour chart.
- Near-Term Resistance: Around 186,a breakout here could lead to targets at 186.5/187/188.
- 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 bullish trend
Trading Recommendation:
It is good to buy on dips around 185.48-50 with a SL around 184.78 for a TP of 188.
