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EURJPY Smashes 182 Barrier After Months of Coiling – Bulls Eye 183 Next

EURJPY breaks significant resistance at 182 after a long consolidation. Intraday is bullish as long as support 181.30 holds. With an intraday high of 182.14, it now trades at about 181.94.

Technical Analysis:

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

  • Near-Term Resistance: Around 182.20, a breakout here could lead to targets at 182.62/183/185.
     
  • Immediate Support: At 181.65, if breached, the pair could fall to 181.30/180.87/180/179.70/ 179.20/178.90/178.40/178.

    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 181.30-35 with a stop loss at 180 for a TP of 183.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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