EURJPY exits the bullish track – Analysis – 9-11-2018
Economies.com
2018-11-09 09:05AM UTC
The EURJPY pair was affected by the strength of 130.20 barrier to force the price to exit the bullish track by declining below the minor bullish channel’s support at 129.55, while the stability of the broken support and forming new resistance will support the domination of the bearish bias for the upcoming trading to expect forming new pressure on 128.83 level, and breaking this level will extend trades towards 128.40.
Also, stochastic reach to the oversold areas assists to increase the negative pressures to increase the chances of reaching the suggested negative targets.
Expected trading range for today is between 129.55 and 128.40
Expected trend for today: Bearish
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