EURJPY affected by the indicators’ contradiction – Analysis – 8-3-2018

The EURJPY pair was forced to provide some sideways trades due to the contradiction of the major indicators, to notice not recording any new positive target and repeat the fluctuation between 131.80 resistance and 129.60 support levels for today.

We expect the price to fall under the effect of additional sideways trading in the near term period until surpassing one of the mentioned levels, noting that surpassing the resistance will reinforce the domination of the bullish bias to extend trading towards 133.00 level, while breaking the support will push the price to be affected by the bearish bias domination and suffer more losses by moving towards 128.05 followed by 126.15.

Expected trading range for today is between 129.60 and 131.80

Expected trend for today: Sideways