EURJPY achieves the target – Analysis – 20-2-2017

The EURJPY price provided more of the negative trading to achieve the expected negative target at 118.50, to form strong support that forces it to provide an intraday positive rebound at 119.60 as appears in the above image, the stability of 23.6% Fibonacci correction level at 120.60 supports the continuation of the negativity in the upcoming trading, to wait for renewing the negative pressure on the current support, where breaking it will open the way towards achieving more of the negative targets by reaching 116.80.

Stochastic rally to 80 level forms the main factor by the price current rebound will open the way towards gathering new negative momentum, to repeat the waited negative attempts.

Expected trading range for today is between 120.00 and 118.50

Expected trend for today: Bearish