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EUR/JPY Consolidates Near 186.00: Bulls Eye Breakout Toward 187.00

EURJPY is consolidating in a narrow range after a minor pullback. It continues to be bullish so long as it's miles above 183.80. After reaching an intraday high of 185.95, it now hovers around 185.88.

Technical Analysis:

The EUR/JPY pair is above the 55 EMA, 200 EMA, and 365-H EMA, and below the 800 EMA on the 4-hour chart.

  • Near-Term Resistance: Around 186.20, a breakout here could lead to targets at 187/188.
     
  • Immediate Support: At 185, if breached, the pair could fall to 183.80-/183/182.15/181.60/180.80/180.

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

    Overall, the indicators suggest a mixed trend

Trading Recommendation:

It is good to buy on dips around 185.20-25 with an SL around 184  for a TP of 187.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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