EURJPY falls towards the first target – Analysis – 17-4-2017

The EURJPY pair completed its negative trip to reach the first target at 114.86, attacking 61.8% Fibonacci correction level, while it might be forced to provide some sideways trading due to the importance of the current barrier, while the stability below the main resistance at 117.10 allows us to continue suggesting the negative attempts, expecting to break the current barrier to resume the bearish attack and attempt to reach the next target at 113.80.

Stochastic consolidation within the oversold areas supports our negative overview, waiting to break the required level and attempt to reach the next expected target.

Expected trading range for today is between 115.80 and 113.80

Expected trend for today: Bearish