EURJPY chooses the negativity – Analysis – 18-12-2018

The EURJPY pair succeeded to exit the sideways range by breaking 127.90 support line, allowing us to suggest the domination of the bearish bias for the near term and medium term trading, while we will depend on 127.90 level forming new resistance to expect targeting 126.90 followed by reaching 126.15 that represents 50% Fibonacci correction level.

Also, stochastic stability within the oversold areas reinforces the negative overview by providing new negative momentum, to ease the mission of recording the mentioned negative targets.

Expected trading range for today is between 127.90 and 126.90

Expected trend for today: Bearish