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EURJPY Bearish Dent Intact: Sell the Relief Rally Toward 183/182 Support

EURJPY gained slightly after a massive sell-off. It continues to be bearish so long as it's miles below 186.20. Having attained an intraday  low of 183.99, it now hovers about 184.81.

Technical Analysis:

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

  • Near-Term Resistance: Around 185, a breakout here could lead to targets at 185.36/186.20/186.5/187/188.
     
  • Immediate Support: At 183.80, if breached, the pair could fall to 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 bearish trend

Trading Recommendation:

It is good to sell on rallies around 185.38-40 with a SL around 186.20  for a TP of 183/182.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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