EURJPY exits the bullish track – Analysis – 12-4-2017

The EURJPY price suffered extra negative pressures yesterday to notice providing new negative trading below 117.00 level, which formed the extension of the main bullish channel’s support, which makes us prefer more of the negative attempts in the near and medium period, to wait for the price attraction to 115.10 first then attempts to achieve more of the negative targets by reaching 113.80.

Stochastic decline to the oversold level increases the negative pressure on the current trading, which provides extra negative momentum to confirm our bearish expectations until achieving the suggested targets.

Expected trading range for today is between 117.00 and 115.10

Expected trend for today: Bearish