EURJPY approaches from the initial support – Analysis – 11-1-2017

The EURJPY price repeated forming negative trading yesterday, to approach from the initial support at 121.60, providing negative close below this level required to confirm surpassing the sideways range, affected by the bearish bias domination until reaching the first target that located at 120.00.

Stochastic attempts to provide strong negative momentum by its approach from 20 level, which assists to form strong negative attack to increase the chances for surpassing the mentioned support, until achieving this break we will keep suggesting the sideways bias to avoid any reversal rebound that might cause unexpected losses.

Expected trading range for today is between 123.30 and 121.60

Expected trend for today: sideways