The EUR/JPY recovered sharply on the weak yen. It hit an intraday high of 159.68 and is currently trading around 159.62. The intraday outlook is bullish as long as the support 158 holds.
Technical Analysis:
The EUR/JPY pair is trading below the 34,55 EMA and 200-4H EMA in the 4-hour chart.
- Near-Term Resistance: Around 160 a breakout here could lead to targets at 160.65/161.50/162/163/163.60/164/165/166.65/167.
- Immediate Support: At 158.80– if breached, the pair could fall to 158/157/156.25.
Indicator Analysis (4-hour chart):
- CCI (50): Bullish
- Average Directional Movement Index: Neutral
Overall, the indicators suggest a bearish trend.
Trading Recommendation:
It is good to buy on dips around 158.80 with stop loss at 158 for a TP of 162.


AUDJPY Stalls in Neutral Ground: Bearish Shadows Loom Over the 111.00 Mark
NZDJPY in Consolidation: Navigating the 92.00 Range as Bearish Clouds Gather
FxWirePro: GBP/NZD runs out of steam but maintains bullish outlook
FxWirePro:NZD/USD treads water as Iran uncertainty keeps traders on edge
FxWirePro: USD/CAD remains buoyant, looks to extend gains
FxWirePro: USD/JPY uptrend loses steam, remains on bullish path
FxWirePro- Major Crypto levels and bias summary
FxWirePro: AUD/USD edges higher but bearish outlook persists
FxWirePro- Woodies Pivot(Major)
FxWirePro: USD/ZAR uptrend loses steam, remains on bullish path
FxWirePro: EUR/ NZD stuck in range but maintains bullish bias
FxWirePro- Major Pair levels and bias summary
FxWirePro: GBP/AUD edges lower, downside risk remains
BTCUSD Coils in Tight Range: Will Geopolitical Stability Trigger a Breakout Toward $80,000?
FxWirePro: GBP/NZD continues to recovers , upside pressure builds
FxWirePro: AUD/USD downside pressure builds, key support level in focus
FxWirePro: USD/JPY edges up, looks to extend gains 



