EURJPY challenges the negative pressures – Analysis – 8-8-2017
Economies.com
2017-08-08 07:50AM UTC
The EURJPY pair forced to form more of the sideways trading due to the contradiction between the main indicators as appears in the above image, the stability of the price above the support at 128.70 confirms facing the negative pressures, to keep waiting for gathering new positive momentum that allows it to record the positive targets that begin at 132.25 reaching to 61.8% Fibonacci correctional level at 134.45.
The stability of stochastic below 50 level will confirm the sideways bias in the current trading, to keep the price without any change until gathering the required positive momentum.
Expected trading range for today is between 129.80 and 132.25
Expected trend for today: Bullish
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