Short term trend: Bullish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 147.61
Kijun-Sen level: 146.97
Ichimoku cloud top: 146.94
Ichimoku cloud bottom: 146.48
EUR/JPY has retreated after making a high of 148.09. Overall trend is bullish as long as 146.85 (Nov 28th low) holds.
The pair’s minor resistance is around 148.10 and any indicative break above will target 149.15 in the short term. The downside break below 146.85 would extend loss to 146.25.
Recommendation: Buy EUR/JPY around 147.51, SL 146.85, Target 149.15.
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 147.61
Kijun-Sen level: 146.97
Ichimoku cloud top: 146.94
Ichimoku cloud bottom: 146.48
EUR/JPY has retreated after making a high of 148.09. Overall trend is bullish as long as 146.85 (Nov 28th low) holds.
The pair’s minor resistance is around 148.10 and any indicative break above will target 149.15 in the short term. The downside break below 146.85 would extend loss to 146.25.
Recommendation: Buy EUR/JPY around 147.51, SL 146.85, Target 149.15.