EURJPY continues to record losses – Analysis – 13-8-2018

The EURJPY pair continued to provide strong negative trading to notice surpassing 50% Fibonacci correction level recently, which formed the waited target at 126.00, while the price fluctuation below this barrier allows us to suggest more negative trading, expecting to move below 124.70 level first, followed by targeting 123.45 level to form the main station of the near term and medium term trading.

Stochastic continuous fluctuation within the oversold areas supports the negative overview, to attempt to provide additional negative momentum that increase the chances of recording the expected targets.

Expected trading range for today is between 126.00 and 124.00

Expected trend for today: Bearish