EURJPY increases the chances for the negativity – Analysis – 06-12-2018

The EURJPY pair provided a new negative close below the bearish channel’s resistance at 128.25, increasing the chances for the bearish bias domination in the near and medium period, therefore, we will keep our negative expectation that targets 127.50 level initially to increase the chances for reaching 126.80 and 126.15 in the upcoming period.

Stochastic sharp decline and its stability below 50 level confirms gaining a new negative momentum, to increase the chances for forming a strong negative attack, to begin targeting the suggested negative levels.

Expected trading range for today is between 128.25 and 126.80

Expected trend for today: Bearish