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EURJPY Bulls Reloaded: 55-EMA Holds Firm – Next Stop 183?

EURJPY took support near the 55-4H EMA and showed a minor pullback. As long as support 179.75 holds, intraday remains bullish.

Technical Analysis:

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

  • Near-Term Resistance: Around 181.20, a breakout here could lead to targets at 182/182.62/183/185.
     
  • Immediate Support: At 180.50, if breached, the pair could fall to 180/179.70/ 179.20/178.90/178.40/178/177.25/176/175.20.

    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 180.68-70 with a stop loss at 179.70 for a TP of 183.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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