EURJPY forms clear negative stability – Analysis – 22-3-2018

Despite the EURJPY pair’s forming some sideways trades, its frequent consolidation below the bearish channel’s resistance at 131.20 reinforces the expected negative overview, waiting to get new negative momentum to start recording more negative targets by moving towards 130.30 followed by reaching 128.80 in the upcoming period.

We should note that attempting to breach the main resistance and getting positive close will cancel the negative overview and prepare to build main bullish bias to target 132.20 as a first main station.

Expected trading range for today is between 131.20 and 130.30

Expected trend for today: Bearish