Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

EURJPY Trapped in Bearish Squeeze: Sell Rallies Near 184 – 180 in Sight

EURJPY is consolidating in a narrow range after a massive sell-off. As long as it remains below 184, the trend for now is bearish. It is currently around 183.42 after hitting an intraday high of 183.71.

Technical Analysis:

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

  • Near-Term Resistance: Around 184,a breakout here could lead to targets at 184.35/184.92/186/187/188.69.
  • Immediate Support: At 183, if breached, the pair could fall to 182/181.75/180.

    Indicator Analysis  (1- hour chart):
  • CCI (50): Bearish
  • Average Directional Movement Index: Neutral

    Overall, the indicators suggest a neutral trend

Trading Recommendation:

It is good to sell on rallies around 183.78-80, with a stop loss at 185 and a TP at 180.

 

 

 

  • Market Data
Close

Welcome to EconoTimes

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