EURJPY forms intraday rebound – Analysis – 29-10-2018

The EURJPY pair is forced to provide an intraday positive rebound after achieving 126.63 level, affected by stochastic rally above 50 level, and that will not effect on the main bearish stability, due to the price stability within the bearish channel that appears in the above image.

Therefore, we will keep waiting for gathering new negative momentum, note that the stability of 127.60 level, which forms an extra resistance, to increase the chances for renewing the negative attack that targets 126.90 level reaching to 126.15 in the medium period.

Expected trading range for today is between 127.60 and 126.15

Expected trend for today: Bearish