EURJPY repeats the bearish correction attempts – Analysis – 21-8-2017

The EURJPY pair kept its negative stability below the bullish channel’s resistance at 131.40 level, reinforcing the domination of the bearish correctional bias, stochastic stability below 50 level increases the negative pressures to support our expectation by the price attempt to test the moving average 55 at 126.90.

Note that the continuation of the negative pressures might force the price to decline below the targeted barrier, to resume the bearish correction to target 38.2% Fibonacci correction level at 123.20.

Expected trading range for today is between 128.80 and 126.90

Expected trend for today: Bearish