Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

EURJPY Plunges Below 184 Amidst Yen Strength: Bearish Outlook Persists

EURJPY pared most of its gains as the yen gained momentum. It continues to be bearish so long as it's miles below 186. Having attained a low of 183.75, it now hovers about 184.17.

Technical Analysis:

The EUR/JPY pair is below  55 EMA,  200, 365-H EMA, and 800- EMA  on the 15-min  chart.

  • Near-Term Resistance: Around 184.56, a breakout here could lead to targets at 185.20/186.20/186.5/187/188.
     
  • Immediate Support: At 183.75, if breached, the pair could fall to 184/183.65/183/182.48/181.80/180.80/180.

    Indicator Analysis  (15-min chart):
  • CCI (50): Bearish
     
  • Average Directional Movement Index:  Bearish

    Overall, the indicators suggest a bearish trend

Trading Recommendation:

It is good to sell on rallies around 184.58-60 with a SL around 185.25  for a TP of 183.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.