EURJPY repeats the negative fluctuation – Analysis – 3-5-2018

The EURJPY pair was forced to form intraday positive rebound before reaching the expected negative target at 131.00, affected by stochastic attempt to exit the oversold areas, which might force the price to provide additional sideways trading until succeeding to get new negative momentum and confirm the preparation to surpass the current support to achieve additional negative targets by moving towards 130.60 followed by 129.90.

We will depend on 131.74 forming initial resistance to form solid obstacle against any attempt to change the trend to confirm blocking the price within the negative range until achieving the suggested negative targets.

Expected trading range for today is between 131.74 and 131.00

Expected trend for today: Bearish