EURJPY surrenders to the indicators’ contradiction – Analysis – 22-6-2018

The EURJPY pair continued to provide mixed sideways trading, hinting the affection by the continuous contradiction of the major indicators until this moment, noticing the price approach to the initial resistance at 128.80 to depend on the stability of this barrier to confirm the continuation of the negativity and expect gathering new negative momentum to start forming strong negative trading, targeting 50% Fibonacci correction level at 126.12 initially.

In addition, the above chart shows the price consolidation within the main bearish channel, to depend on the strength of 130.35 resistance and confirm blocking the price within the negative range until starting to record the waited targets.

Expected trading range for today is between 128.80 and 127.00

Expected trend for today: Bearish