EURJPY forms a Bullish BAT Pattern, good to buy on dips
Harmonic pattern- Bullish BAT
Potential Reversal Zone (PRZ)- 155.45-50
Technicals-
The pair is trading below 34- and 55 EMA in the hourly chart.
The near-term resistance is around 156, a breach above targets 156.56/157/157.60. Overall bias remains weak as long as resistance 160 holds—major bullish continuation only above 163.87. The immediate support is at 155.50 any violation below will drag the pair to 154.40/154.
Indicator (1-hour chart)
CCI (14)- Bearish
CCI (50)- Bearish
Average directional movement Index - Bearish. All indicators confirm a mixed trend.
It is good to buy on dips around 155.58-60 with SL around 154.90 for a TP of 157.40.
Note
Call got activated. Jumped more than 60 pips from our buy levelsNote
Surged nearly 150 pips from our buy price.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.