EUR/JPY Poised to Slide — Sell Rallies into 185.30 with Eye on 183"

EURJPY has been consolidating in a narrow range with a neutral bias for the past 4 days. It continues to be bearish so long as it's miles below 186. Having attained a high of 185.46 yesterday, it now hovers about 184.85.

Technical Analysis:

The EUR/JPY pair is below  55 EMA,  200, 365-H EMA, and 800 EMA  on the 4-hour   chart.

• Near-Term Resistance: Around 186.30,a breakout here could lead to targets at 187/188.
   
• Immediate Support: At 184.80, if breached, the pair could fall to 184/183.65/183/182.48/181.80/180.80/180.
  
  Indicator Analysis  (4-hour chart):
• CCI (50): Neutral
   
• Average Directional Movement Index:  Neutral
  
  Overall, the indicators suggest a mixed trend

Trading Recommendation:

It is good to sell on rallies around 185.28-30 with a SL around 186  for a TP of 183.