EURJPY prepares to decline – Analysis – 18-10-2017

The EURJPY pair repeated its fluctuation below the bullish channel’s resistance at 132.20, to keep the possibility for forming bearish correctional trading in the near and medium period, by the above image, we notice the stability of the current resistance at 50% Fibonacci correction level, to reinforce the price confinement within the bearish range, which makes us wait for recording negative targets that begin at 130.500 reaching, to 129.60 to face the moving average 55.

Stochastic stability near 20 level confirms suffering negative pressures, attempting to provide extra negative momentum, to ease the attempt to reach the suggested targets.

Expected trading range for today is between 132.50 and 130.55

Expected trend for today: Bearish