EURJPY in danger – Analysis – 5-12-2018

The EURJPY pair ended its trading yesterday by providing negative close below the bearish channel’s resistance at 128.20 level, to increase the danger of suffering big losses in the near and medium period, the stability of this resistance will force the price to decline to 127.25 initially, then attempt to reach to 50% Fibonacci correction level at 126.15.

While regaining the bullish bias requires breaching the current resistance and forming a strong bullish attack, to attempt to surpass the negativity of the moving average 55 by its stability at 128.75.

Expected trading range for today is between 128.25 and 127.25

Expected trend for today: Bearish