EURJPY Tumbles as Euro Vitality Fades: Bearish Grip Tightens Below 185

EURJPY lost its shine on Euro weakness. It continues to be bearish so long as it's miles below 185. Having attained a low of 184.02 yesterday, it now hovers about 184.40.

Technical Analysis:

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

• Near-Term Resistance: Around 185,a breakout here could lead to targets at 185.60/186.25/187.
   
• Immediate Support: At 184, if breached, the pair could fall to 183.65/183/182.48/181.80/180.80/180.
  
  Indicator Analysis  (4- hour chart):
• CCI (50): Bearish
   
• Average Directional Movement Index:  Bearish
  
  Overall, the indicators suggest a weak trend

Trading Recommendation:

It is good to sell on rallies around 185 with a SL around 186  for a TP of 183.