EURJPY jumped more than 50 pips from an intraday low of 161.02. It hit a high of 161.78 at the time of writing and is currently trading around 161.72.
Technicals-
The pair trades above 34- and 55 EMA in the 8-hour chart.
The near-term resistance is around 162.05 (200- 8H EMA), a breach above targets Major bullish continuation is only above 163.87. The immediate support is at 161, any violation below will drag the pair to 160.65/160/158.
Indicator (8-hour chart)
CCI (14)- Bullish
CCI (50)- Bearish
Average directional movement Index - neutral. All indicators confirm mixed trends.
It is good to buy above 162.05 with SL around 161.25 for a TP of 163.85.
