EURJPY Breaks Trendline Support, Slides to 182.89 – Bearish Bias Holds Below 184, Sell Rallies Targeting 180

EURJPY broke below its trend line after being stuck for a while. The trend for today is still down as long as it stays below 185. It dropped to 182.89 today and is now around 182.96.

Technical Analysis:

The EUR/JPY pair is trading above 55 EMA,  200, and below  365-H EMA  on the 4-hour  chart.

• Near-Term Resistance: Around 184,a breakout here could lead to targets at 185/186/187/188.69.
• Immediate Support: At 182.80, if breached, the pair could fall to 182/181/180.
  
  Indicator Analysis  (4-hour chart):
   
• CCI (50): Neutral
   
• Average Directional Movement Index: Neutral

Overall, the indicators suggest neutral trend

Trading Recommendation:

It is good to sell on rallies around 183.38-40 with a stop loss at 184 for a TP of 180.