Short term trend: Bullish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 146.55
Kijun-Sen level: 147.35
Ichimoku cloud top: 145.87
Ichimoku cloud bottom: 144.72
EUR/JPY gas taken support at 145.57 (23.6% retracement of 134.13 to 149.12) and has recovered from that level. Overall trend is bullish as long as support 145.50 holds.
Any break below 145.50 will target 144.70/143.35 in the short term. The pair’s major resistance is around 147.50 and any indicative break above would extend gain to 149.12/150.
It is good to buy at dips around 146.35-40 for the target of 147.50/149.
Recommendation: Buy EUR/JPY around 146.35-40, SL 145.50, target 147.50/149.
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 146.55
Kijun-Sen level: 147.35
Ichimoku cloud top: 145.87
Ichimoku cloud bottom: 144.72
EUR/JPY gas taken support at 145.57 (23.6% retracement of 134.13 to 149.12) and has recovered from that level. Overall trend is bullish as long as support 145.50 holds.
Any break below 145.50 will target 144.70/143.35 in the short term. The pair’s major resistance is around 147.50 and any indicative break above would extend gain to 149.12/150.
It is good to buy at dips around 146.35-40 for the target of 147.50/149.
Recommendation: Buy EUR/JPY around 146.35-40, SL 145.50, target 147.50/149.