FxWirePro- EURJPY trade idea (Asian session update)

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.