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Euro Rally Drives EUR/JPY Past 183.50: Upside Targets 185.00 in Focus

EURJPY gained above 183.50 on a strong Euro. It continues to be bullish so long as it's miles above 183. Having attained an intraday high of 183.90, it now hovers about 183.88.

Technical Analysis:

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

  • Near-Term Resistance: Around 184.35,a breakout here could lead to targets at 185/186/187.
     
  • Immediate Support: At 183, if breached, the pair could fall to 182.15/181.60/180.80/180.

    Indicator Analysis  (4-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 183.78-80,  with a SL around 183  for a TP of 185.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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