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EURJPY Carves Triple Bottom at 180.20 – Bulls Ready to Storm 182-183 as Breakout Momentum Builds

EURJPY has formed triple bottom around 180.20 and showed a minor pullback. Intraday is bullish as long as support 180 holds. With an intraday high of 180.80, it now trades at about 180.807.

Technical Analysis:

The EUR/JPY pair is trading above 55 EMA,  200, and below  365-H EMA  on the 15-minute chart.

  • Near-Term Resistance: Around 180.80, 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): Bullish
     
  • Average Directional Movement Index: Bullish

Overall, the indicators suggest a bullish trend

Trading Recommendation:

It is good to buy on dips around 180.48-50 with a stop loss at 180 for a TP of 182/183.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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