Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

EURJPY Surges Past 177.50 as Yen Falters Amid Political Turmoil

 

 

 

EURJPY trades higher and holds above 177.50 level as yen loses momentum due to political uncertainty. Intraday remains bullish as long as support 176.60 holds. 

 

Technical Analysis:

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

  • Near-Term Resistance: Around 178, a breakout here could lead to targets at 178.80/180/183.
     
  • Immediate Support: At 177, if breached, the pair could fall to 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 with a stop loss at 175.70 for a TP of 180.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  • Market Data
Close

Welcome to EconoTimes

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