EURJPY Targets 180 as Bullish Momentum Builds on Weak Yen

EURJPY hits a fresh monthly high on board-based yen weakness. Intraday remains bullish as long as support 176.60 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 178.20, 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 stop loss at 175.70 for a TP of 180.