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EURJPY Recovers Over 150 Pips Post-BOJ Hike, Bullish Trend Strengthens

EURJPY recovered more than 150 pips after the BOJ rate hike. Having attained an intraday low of 178.93, it now hovers around 181.09.

Technical Analysis:

The EUR/JPY pair is above the 55 EMA,  200 EMA, 365-H EMA, and 800 EMA on the 1-hour chart.

  • Near-Term Resistance: Around 182, a breakout here could lead to targets at 183/184.40/185.
     
  • Immediate Support: At 180, if breached, the pair could fall to 177.80/177/176/175.

    Indicator Analysis  (1-hour chart):
  • CCI (50): Bullish
     
  • Average Directional Movement Index: Bullish

    Overall, the indicators suggest a bullish trend

Trading Recommendation:

It is good to buy on dips around 180.78-80with  a SL around 180 for a TP of 183/185.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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