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EURJPY recovered after a false breakdown below 365 H EMA. It stays positive as long as it's far above 184. Having reached an intraday high of 185.36, it now floats around 185.09.
Technical Analysis:
The EUR/JPY pair is below 55 EMA, above 200, and above 365-H EMA and 800 EMA on the 1-hour chart.
- Near-Term Resistance: Around 185.36,a breakout here could lead to targets at 186.20/186.5/187/188.
- Immediate Support: At 184.35, if breached, the pair could fall to 184/183/182.48/181.80/180.80/180.
Indicator Analysis (1- hour 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 185 with a SL around 184.35 for a TP of 186.32.
