Short term trend: Bullish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 144.01
Kijun-Sen level: 143.38
Ichimoku cloud top: 142.74
Ichimoku cloud bottom: 140.42
EUR/JPY has made a temporary high at 144.69 and is retreating from that level. Overall trend is bullish as long as support 142 holds.
The break of 142 would extend loss to 140.63 and 140. The pair’s minor resistance is around 144.70 (Nov 11th high). Any indicative break will target 145.68 (Dec 27th high).
Recommendation: Buy EUR/JPY around 142.48, SL 141.97, Target 145.68.
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 144.01
Kijun-Sen level: 143.38
Ichimoku cloud top: 142.74
Ichimoku cloud bottom: 140.42
EUR/JPY has made a temporary high at 144.69 and is retreating from that level. Overall trend is bullish as long as support 142 holds.
The break of 142 would extend loss to 140.63 and 140. The pair’s minor resistance is around 144.70 (Nov 11th high). Any indicative break will target 145.68 (Dec 27th high).
Recommendation: Buy EUR/JPY around 142.48, SL 141.97, Target 145.68.