EURJPY gained slightly after German PMI data. It hits an intraday high of 171.97 and is currently trading at approximately 171.974. Intraday outlook remains bullish as long as support 169.75 holds.
Released at 7:30 am GMT on August 21, 2025, Germany's flash PMI statistics reveals a mixed economic picture: the Manufacturing PMI increased to 49.9, surpassing expectations of 48.8 and approaching the 50 expansion threshold, so indicating a greater-than-anticipated rebound; the Services PMI dropped to 50.1, slightly above the expansion benchmark but indicating a slowing of momentum relative to July.
Technical Analysis:
The EUR/JPY pair is trading below 55 EMA, above 200 and 365-H EMA on the 1-hour chart.
- Near-Term Resistance: Around 172.25, a breakout here could lead to targets at 173/173.89/174/175.
- Immediate Support: At 171.10 if breached, the pair could fall to 170.80/169.70/169/168.70/168.45/168.
Indicator Analysis 4-hour chart): - CCI (50): Bearish
- Average Directional Movement Index: Neutral
Overall, the indicators suggest a mixed trend
Trading Recommendation:
It is good to buy on dips around 171.50 with a stop loss at 170.80 for a TP of 173/174.
