FxWirePro

We prefer to go long in EUR/JPY

Long
FX:EURJPY   Euro / Japanese Yen
4
Short term trend: Bullish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 149.06
Kijun-Sen level: 148.39
Ichimoku cloud top: 147.44
Ichimoku cloud bottom: 147.35

EUR/JPY has retreated after making high of 149.77. Overall trend is bullish as long as support 147.60 ( 50% retracement of 149.77 and 145.57) holds.
The pair’s minor resistance is around 150 and any break above will take the pair to 150.50/151.70.

Indicators
Ichimoku (9, 26, 52, 26) - Buy
MACD (12.26.9) – Buy

Recommendation: Buy EUR/JPY around 148.60, SL 147.60, Target 151.70.
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