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EURJPY showed a minor pullback with intraday bias remaining neutral. It hit a low of 156.15 at the time of writing and is currently trading around 156.47.
Technicals-
The pair trades below 34- and 55 EMA in the 4-hour chart.
The near-term resistance is around 157.15, a breach above targets 157.59/158.35. Overall bias remains weak as long as resistance 160 holds—major bullish continuation only above 163.87.The immediate support is at 156, any violation below will drag the pair to 155/154.20 (161.8% fib)/153.
Indicator (4- Hour chart)
CCI (14)- Bullish
CCI (50)- Bearish
Average directional movement Index - neutral All indicators confirm a mixed trend.
It is good to sell on rallies around 156.78-80 with SL around 157.50 for a TP of 154.90.
