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EURJPY Holiday Lull: Tight Range Above 183 Keeps Bullish Bias Alive – Buy Dips Targeting 186-187

 

EURJPY is trading in a tight range today because of the holiday. If it stays above 183, the short-term trend looks upward. It dropped to around 183.41 earlier and is currently around 183.557.

Technical Analysis:

The EUR/JPY pair is trading above 55 EMA,  200, and below  365-H EMA  on the 4-hour  chart.

  • Near-Term Resistance: Around 185, a breakout here could lead to targets at 186/187/188.69.
     
  • Immediate Support: At 183.25, if breached, the pair could fall to 183/182.70/182.

    Indicator Analysis  (4-hour chart):
     
  • CCI (50): Neutral
  • Average Directional Movement Index: Neutral


Overall, the indicators suggest a neutral trend

Trading Recommendation:

It is good to buy on dips around 183.38-40 with a stop loss at 183 for a TP of 186/187.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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