EURJPY fluctuates within the negative range – Analysis – 20-6-2018

The EURJPY pair continues to fluctuate within the negative range recently, noticing its consolidation below the initial resistance at 128.20, while stochastic attempt to exit the oversold areas might force the price to provide some intraday sideways trading until gathering additional negative momentum to support the attempt to reach our target at 126.12, waiting to break this barrier due to its importance to detect the next main trend.

We should note that attempting to breach the initial resistance will postpone the negative attack, to force the price to build correctional positive trades to move towards 38.2% Fibonacci correction level at 128.80, followed by repeating the suggested negative attack.

Expected trading range for today is between 128.20 and 126.12

Expected trend for today: Bearish