EURJPY achieves the negative targets – Analysis – 23-3-2018

The EURJPY pair formed strong negative attack yesterday, affected by its consolidation within the bearish channel besides gathering additional negative momentum coming by the moving average 55 consolidation around the major resistance, noticing that the price achieved the waited targets that end at 128.90 to face 38.2% Fibonacci correction level.

We expect forming some sideways trading due to the price affection by the strength of 128.90 level, to form an initial support now, waiting to gather additional negative momentum in the near term period to increase the chances of breaking this barrier to reach 127.80 level that forms the next target.

Expected trading range for today is between 130.00 and 128.90

Expected trend for today: Sideways