EURJPY fluctuates below the resistance – Analysis – 2-7-2018

Despite the EURJPY pair’s recent correctional bullish trades, its stability within the bearish channel’s resistance at 129.90 confirms the continuation of the negativity for the upcoming period, thus, the continuous stability of the resistance will allow us to continue suggesting the bearish attempts and target 127.00 followed by reaching the main station at 126.10.

Stochastic reach to the overbought areas confirms the attempt to get rid of the positive pressures, reminding you that it is important to hold below the main resistance to increase the chances of gathering the negative momentum to start achieving the suggested targets.

Expected trading range for today is between 129.90 and 127.60

Expected trend for today: Bearish