EURJPY declined after a minor pullback above 162. It hit a low of 160.70 at the time of writing and is currently trading around 161.23.
Technicals-
The pair trades above 34- and below 55 EMA in the hourly chart.
The near-term resistance is around 161.38 (34- H EMA), a breach above targets 161.85/162.20/162.50/162.93. The immediate support is at 160.90, any violation below will drag the pair to 160.40/160.
Indicator (hourly chart)
CCI (14)- Bullish (above 100)
CCI (50)- Bullish (below 100)
Average directional movement Index - neutral. All indicators confirm the mixed trend.
It is good to stay away.
