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EURJPY Rockets Past 178: Bullish Breakout Eyes 183 – Load Up on Dips at 177.80!

EURJPY recovered above the 178 level after a minor sell-off. Intraday remains bullish as long as support 177.20 holds. 

Technical Analysis:

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

  • Near-Term Resistance: Around 179,a breakout here could lead to targets at 180/183.
     
  • Immediate Support: At 177.80, if breached, the pair could fall to 177.20/176.60/175.70/175.20/174.60/174/173.

    Indicator Analysis  (4-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 177.78-80 with a stop loss at 177 for a TP of 183.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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