EURJPY hovers near the resistance – Analysis – 13-2-2019

The EURJPY pair responded to stochastic positivity, to approach from the bearish channel’s resistance at 125.60, the bearish scenario depends on the strength of this resistance, to expect forming new bearish waves and that will press on 124.20 level reaching to the main target at 123.50.

While the price rally above the bearish channel’s resistance and providing positive close above it will cancel the negative overview, to begin building a strong bullish trading that might push it to reach 126.20 and 126.80.

The expected trading range for today is between 125.60 and 124.20

The expected trend for today: Bearish