Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

Triple Bottom Triumph: EURJPY Bulls Eye 186.00 as Momentum Surges

EURJPY gained sharply after forming a triple bottom around 182. It continues to be bullish so long as it's miles over 181.80. Having attained an intraday high of 183.93, it now hovers about 183.92.

Technical Analysis:

The EUR/JPY pair is below 55 EMA,  200, and 365-H EMA  on the 4-hour  chart.

  • Near-Term Resistance: Around 184, a breakout here could lead to targets at 184.60/185/186.25.
     
  • Immediate Support: At 182.78, if breached, the pair could fall to 182.48/181.80/180.80/180.

    Indicator Analysis  (4- hour chart):
  • CCI (50): Bullish
     
  • Average Directional Movement Index:  Bullish

    Overall, the indicators suggest a bullish trend

Trading Recommendation:

It is good to buy on dips around 183.48-50 with a SL around 183  for a TP of 186.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.