EURJPY awaits the correctional bearish bias confirmation – Analysis – 17-10-2017

The EURJPY pair provided mixed trading yesterday to fluctuate near 132.05 level, which forms the border line between its surrender to the bearish correctional bias and attempt to regain the positive trading, stochastic stability near 20 Level increases the negative pressures, providing negative close below 132.05 makes us expect the beginning of forming strong bearish attack, to target 130.55 level first reaching to 127.70, hence it forms historical support extension as appears in the above image.

Note that the attempt of regaining the bullish bias requires breaching 133.10 level, to confirm surpassing the negative pressures, to begin building bullish bias that targets 134.55 level as a first positive station.

Expected trading range for today is between 133.10 and 130.55

Expected trend for today: Bearish