EUR/JPY Triple Bottom Holds Strong: Buy Dips at 182, Eyes 185 Breakout

EURJPY formed a triple bottom around 182 and showed a minor pullback. It is still bullish as long as it is over 181.80. It now hovers around 182.86 after hitting an intraday low of 182.02.

Technical Analysis:

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

• Near-Term Resistance: Around 185,a breakout here could lead to targets at 186/187/188.69.
   
• Immediate Support: At 183.20, if breached, the pair could fall to 182.80/182.48/181.80/180.80/180.
  
  Indicator Analysis  (4- hour chart):
• CCI (50): Bearish
   
• Average Directional Movement Index:  Neutral
  
  Overall, the indicators suggest a bullish trend

Trading Recommendation:

It is good to buy on dips around 182 with  a SL around 180.80 for a TP of 185.