EURJPY affected by negative pressures – Analysis – 16-2-2017

The EURJPY price remains affected by the negative pressures due to its stability below the main resistance that located at 121.80, besides forming a strong barrier by the moving average 55 at 121.20, therefore, we will keep waiting for forming a new bearish attack until reaching the targets at 120.00 reaching to 118.60 level.

Stochastic returned to support the negative attempts by surpassing the overbought level, to notice its stability currently below 50 level, to provide the required negative momentum to achieve the waited targets.

Expected trading range for today is between 121.20 and 118.60

Expected trend for today: Bearish