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Euro-Yen Retreats From 186.20 Peak, but Bulls Reload for a Run at 188

EURJPY pared some of its gains as the Euro loses momentum. It continues to be bullish so long as it's miles above 184. Having attained a high of 186.20, it now hovers about 185.69.

Technical Analysis:

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

  • Near-Term Resistance: Around 186.20, a breakout here could lead to targets at 186.5/187/188.
     
  • Immediate Support: At 185.354, if breached, the pair could fall to 184.80, 184/183.65/183/182.48/181.80/180.80/180.

    Indicator Analysis  (4- hour chart):
  • CCI (50): Bullish
     
  • Average Directional Movement Index:  neutral

    Overall, the indicators suggest a bullish trend

Trading Recommendation:

It is good to buy on dips around 185.48-50 with a SL around 184.78  for a TP of 188.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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