EURJPY begins to decline – Analysis – 10-9-2018

The EURJPY pair returned to provide new negative closings below 128.55 level, attempting to form the double top pattern that supports the continuation of the negativity for the near term and medium term period, expecting to attack 127.85 level now, while breaking this barrier will extend trades towards additional negative targets that might start at 127.10 followed by 126.15 in the upcoming period.

Also, stochastic attempt to crawl towards the oversold areas reinforces our bearish overview by providing new negative momentum to increase the chances of breaking the initial barrier to open the way to record additional targets as mentioned before.

Expected trading range for today is between 128.80 and 127.10

Expected trend for today: Bearish