EUR/JPY has retreated after making a high of 130.10 and currently trading around 129.27. Overall trend is weak as long as resistance 131.28 holds.
On the upside any break above 131.28 would extend gains till 131.75/132.69.
The pair’s minor support is around 128.80 and nay break below will drag the pair further down till 128.05/127.55.
Indicator (4 hour chart)
CCI (50) – Buy
Woodies CCI (14) – Neutral
Ichimoku- Neutral
It is good to sell on rallies around 129.30 for the target of 127.60 with stop around 130.15.
On the upside any break above 131.28 would extend gains till 131.75/132.69.
The pair’s minor support is around 128.80 and nay break below will drag the pair further down till 128.05/127.55.
Indicator (4 hour chart)
CCI (50) – Buy
Woodies CCI (14) – Neutral
Ichimoku- Neutral
It is good to sell on rallies around 129.30 for the target of 127.60 with stop around 130.15.