Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

Google Add as a preferred source on Google

Fade the Rally: EUR/JPY Short Opportunity Near 180.80

EURJPY recovered more than 100 pips as the yen loses momentum. Having attained an intraday high of 180.66, it now hovers around 180.606.

Technical Analysis:

The EUR/JPY pair is above the 55 EMA, below the 200 and 365-H EMA, and above the 800-EMA on the 4-hour chart.

  • Near-Term Resistance: Around 181,a breakout here could lead to targets at 182/183/184.40/185.
     
  • Immediate Support: At 180, if breached, the pair could fall to 179.50/178.47/177.80/177/176/175.

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

    Overall, the indicators suggest a bullish trend

Trading Recommendation:

It is good to sell on rallies around 180.78-80 with  a SL around 181.60 for a TP of 177.80.

 

 

 

 

 

 

 

 

 

 

 

 

  • Market Data
Close

Welcome to EconoTimes

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