EURJPY continues negatively – Analysis – 22-2-2017

The EURJPY price provided more of the negative trading in the last period below 120.60 level, confirming its affection by the domination of the expected bearish bias, the price fluctuation currently below 120.00 makes us wait for achieving the main target by reaching 118.50 to test 38.2% Fibonacci correction level that appears in the above image.

The moving average 55 settles near the resistance at 120.60, to confirm the price confinement within the negative range, to notice stochastic attempt to reach the oversold level, to provide the required negative momentum to resume the negative attack in the near and medium period.

Expected trading range for today is between 120.00 and 118.50

Expected trend for today: Bearish