The EURJPY price affected by new negative pressures to settle below 121.20 level, to expect the attempt to form bearish correctional bias in the near period, therefore, we will depend on the stability of the broken support to form an initial resistance to extend the losses to 120.30 to test the moving average55, then attempts to hit 38.2% Fibonacci correction level at 119.50.
Stochastic reach to the oversold level will increase the negative pressure on the trading, which forces it to decline until achieving the suggested targets.
Expected trading range for today is between 121.20 and 120.30
Expected trend for today: Bearish