EURJPY affected by the strength of the resistance – Analysis – 3-1-2017

In spite of forming a bullish rebound in the last period, but the stability of the resistance at 124.00 for today increases the possibility for forming a bearish correctional bias in the near and medium period, therefore, we will keep waiting for providing negative pressure on the support at 121.60, reminding you that breaking this level will open the way towards recording more of the negative targets by reaching 120.00 and 118.60.

Stochastic attempt to record bearish wave assists to begin forming negative attack, which provides the required momentum until achieving the suggested targets.

Expected trading range for today is between 124.00 and 121.60

Expected trend for today: Bearish