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EURJPY trades flat with positive bias. It continues to be bullish so long as it's miles below 183. Having attained an intraday high of 184.35, it now hovers about 184.585.
Technical Analysis:
The EUR/JPY pair is below 55 EMA, 200, and above 365-H EMA on the 4-hour chart.
- Near-Term Resistance: Around 185, a breakout here could lead to targets at 185.60/186.25/187.
- Immediate Support: At 184, if breached, the pair could fall to 183.65/183/182.48/181.80/180.80/180.
Indicator Analysis (4- hour chart): - CCI (50): Bearish
- Average Directional Movement Index: Neutral
Overall, the indicators suggest a mixed trend
Trading Recommendation:
It is good to buy on dips around 184 with a SL around 183 for a TP of 186.
