The EURJPY pair forced to delay the negative attack by surpassing the barrier at 128.80, affected by stochastic rally above 50 level, we expect the continuation of providing an intraday positive trading until testing the main bearish channel’s resistance at 129.90.
Note that the stability of the moving average 55 near the main resistance will confirm the continuation of the negativity in the upcoming period, by the price confinement within the bearish channel levels, increasing the chances for gathering a new negative momentum in the near period, then begin to achieve the main negative targets that represented by 127.00 and 126.10 level.
Expected trading range for today is between 128.60 and 129.80
Expected trend for today: Fluctuated within the bearish range