EURJPY under the negative pressure – Analysis – 02-06-2016
Economies.com
2016-06-02 07:33AM UTC
The EURJPY pair declined yesterday to reach 121.85 level, affected by strong negative pressures caused by the consolidation of the moving average 55 around 123.15 resistance, besides stochastic attempt to form new negative wave by settling below 50 level.
These factors allow us to suggest the bearish bias for the upcoming period, depending on the stability of the mentioned resistance, to expect breaking 121.85 level and open the way to reach more negative targets that might extend to 121.40 followed by 120.85.
Expected trading range for today is between 122.80 and 121.40
Expected trend for today: Bearish
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