Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

EURJPY Loses Luster – Yen Power Sends Pair Plunging to 175 Target

EURJPY lost its shine on the strong yen. Intraday remains bearish as long as the resistance at 177.25  holds. 

Technical Analysis:

The EUR/JPY pair is trading below above  55 EMA,  200, and  365-H EMA  on the 1-hour  chart.

  • Near-Term Resistance: Around 177.30, a breakout here could lead to targets at 178/178.80/179/180/183.
     
  • Immediate Support: At 176.40 if breached, the pair could fall to 175.70/175.20/174.60/174/173.

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

Overall, the indicators suggest a bearish trend

Trading Recommendation:

It is good to sell on rallies around 176.88-90 with stop loss at 177.50 for a TP of 175.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.