EURJPY affected by the stability of the moving average – Analysis – 16-11-2018

The EURJPY pair still affected by the sideways bias domination due to the stability of the moving average 55 against the bullish attempts at 128.85, to repeat testing the initial support at 128.30, noting that the continuous stability of the moving average 55 will increase the chances of breaking the initial support to force the price to form new correctional negative trades to move towards 127.80 followed by reaching 127.10 in the upcoming period.

Therefore, we will start suggesting the negative fluctuation unless the price breached the current barrier, noting that stochastic attempt to form negative wave will increase the chances of gathering the negative momentum to manage to achieve our correctional targets.

Expected trading range for today is between 128.85 and 127.80

Expected trend for today: Bearish