Board-based Euro purchases send EURJPY trading over 181. Intraday is bullish as long as support at 180 holds. With an intraday high of 181.39, it now trades at about 181.35.
Technical Analysis:
The EUR/JPY pair is trading above 55 EMA, 200, and 365-H EMA on the 1-hour chart.
- Near-Term Resistance: Around 181.55, a breakout here could lead to targets at 182/182.62/183/185.
- Immediate Support: At 180.75, if breached, the pair could fall to 180/179.70/ 179.20/178.90/178.40/178/177.25/176/175.20.
Indicator Analysis (60-min 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 181 with a stop loss at 180.45 for a TP of 182/183.
