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EURJPY pared some of its gains after a pullback. It hit a high of 158.30 yesterday and is currently trading around 157.15.
Markets eye US fed meeting for further direction.
Technicals-
The pair is trading below 34- and above 55 EMA in the 4-hour chart.
The near-term resistance is around 157.60, a breach above targets 158.35/159. Overall bias remains weak as long as resistance 160 holds—major bullish continuation only above 163.87. The immediate support is at 157, any violation below will drag the pair to 156/155/154.20 (161.8% fib)/153.
Indicator (4- Hour chart)
CCI (14)- Bullish
CCI (50)- Bearish
Average directional movement Index - neutral All indicators confirm a mixed trend.
It is good to stay away till Fed monetary policy.
