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EURJPY halted its bullish trend for three days with a neutral intraday bias. It hit a low of 161.84 at the time of writing and is currently trading around 162.03.
Technicals-
The pair is trading below 34- and above 55 EMA in the hourly chart.
The near-term resistance is around 160.25 (23.6% fib), a breach above targets 162.50/163/163.85. Major bullish continuation only above 163.87. The immediate support is at 161.80, any violation below will drag the pair to 161/160.
Indicator (hourly chart)
CCI (14)- Bearish
CCI (50)- Bearish
Average directional movement Index - neutral. All indicators confirm the mixed trend.
It is good to wait for confirmation.
