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EUR/JPY Stuck in Neutral Gear — Bulls Still in Control Above 182

EURJPY is consolidating in a narrow range with a neutral bias. As long as it remains above 182, the trend for now is bullish. It is currently around 183.68 after hitting an intraday high of 183.

Technical Analysis:

The EUR/JPY pair is trading above 55 EMA,  above 200, and  365-H EMA  on the 1-hour  chart.

  • Near-Term Resistance: Around 184,a breakout here could lead to targets at 184.35/184.92/186/187/188.69.
  • Immediate Support: At 183, if breached, the pair could fall to 182/181.75/180.

    Indicator Analysis  (1- hour chart):
     
  • CCI (50): Bullish
     
  • Average Directional Movement Index: Neutral

    Overall, the indicators suggest a neutral trend

Trading Recommendation:

It is good to buy on dips around 183 with a stop loss at 182 for a TP of 185.

 

 

 

 

  • Market Data
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