EURJPY suffers strong negative pressures – Analysis – 11-8-2017

The EURJPY pair resumed providing negative trading yesterday due to suffering strong negative pressures by stochastic stability below 50 level, we notice the price fluctuation currently below 38.2% Fibonacci level and recording 128.20 level, easing the expected positive stability.

We recommend monitoring the price behavior in the upcoming four hours, to wait for providing the next close to detect the main trend in the upcoming period, while the price rally above 128.70 level will turn the price to the bullish range that targets 130.20 level initially, while providing negative close below 128.20 will make us prefer the bearish bias domination, to suffer big losses that begin at 126.75 reaching to 125.20.

Expected trading range for today is between 129.00 and 131.50

Expected trend for today: Bullish