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Euro Soars as EUR/JPY Breaks 174 Barrier: Bullish Momentum Targets 176

EURJPY gained above 174 on a strong Euro.  It hits an intraday high of 174.255 and is currently trading at approximately 174.23. Intraday outlook remains bullish  as long as support 173 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 174.50, a breakout here could lead to targets at 175/176.
     
  • Immediate Support: At 173.45, if breached, the pair could fall to 173/172.50-/171.80/170.80/169.70/169/168.70/168.45/168.

    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 173.95-74 with a stop loss at 173.40 for a TP of 176.

 

 

 

 

 

 

 

 

 

 

 

 

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