EURJPY continues to postpone the negative attack – Analysis – 16-10-2018

Despite the EURJPY pair’s consolidation within the negative range by 130.30 resistance line stability, but we notice the continuous resistance to the negative pressure by forming some positive rebound that appears on the chart, while the consolidation of the moving average 55 above the current price supports our negative overview, to expect gathering new negative momentum to reach the first negative target at 128.90.

We remind you that the price attempt to surpass the key resistance will confirm its preparation to change the main trend, to start forming strong bullish attack by targeting 131.20 followed by reaching 131.85 in the upcoming period.

Expected trading range for today is between 130.30 and 129.00

Expected trend for today: Bearish