EURJPY attempts to resume the bearish correctional bias – Analysis – 8-2-2017

The EURJPY price confirmed the continuation of the bearish correctional attempts by providing new negative close below 120.60 level, to settle near the moving average 55 as appears in the above image, therefore, we will keep our bearish expectations in the near and medium period until the price reach to the main correctional target at 118.40.

Stochastic remains stable within the oversold level to reinforce the negative pressure, and repeats the attempts of providing negative momentum that confirms the attempt for reaching the waited target.

Expected trading range for today is between 120.60 and 118.40

Expected trend for today: Bearish