Euro Gets Smacked – EURJPY Rejects 182 and Eyes 179.20 Massacre

EURJPY pared some of its gains on weak Euro. As long as resistance 182 holds, intraday remains bearish.

Technical Analysis:

The EUR/JPY pair is trading below 55 EMA,  200 and  365-H EMA  on the 15-min  chart.

• Near-Term Resistance: Around 181 ,a breakout here could lead to targets at 181.55/182/182.62/183/185.
   
• Immediate Support: At 180.50, if breached, the pair could fall  to 180/179.70/ 179.20/178.90/178.40/178/177.25/176/175.20.
  
  Indicator Analysis  (15-min chart):

1. CCI (50): Bearish
2. Average Directional Movement Index:  Neutral

Overall, the indicators suggest mixed trend

Trading Recommendation:

It is good to sell on rallies around 181 with stop loss at 182 for a TP of 179.20.