EURJPY trades slightly weak on board-based yen buying. As long as support 180 holds, intraday remains bullish. It hits an intraday low of 180.202 and is currently trading around 180.63.
Technical Analysis:
The EUR/JPY pair is trading below 55 EMA, 200, and 365-H EMA on the 15-minute chart.
- Near-Term Resistance: Around 181,a breakout here could lead to targets at 181.55/182/182.62/183/185.
- Immediate Support: At 180, if breached, the pair could fall to 179.70/ 179.20/178.90/178.40/178/177.25/176/175.20.
Indicator Analysis (15-min 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 180.28-30 with a stop loss at 179.70 for a TP of 182.
