EURJPY keeps the bearish bias – Analysis – 11-12-2018

The EURJPY pair provided new negative close below the bearish channel’s resistance at 128.70 yesterday, hinting the preparation to form new negative attack in the near term period, while getting new negative momentum by stochastic decline below 50 level will ease the mission of rallying negatively, to expect moving towards 128.00 followed by 127.50.

We remind you that attempting to breach the current resistance will change the main trend, to start forming strong bullish trades and allows us to wait to record many positive levels that might start at 129.25 followed by 130.00.

Expected trading range for today is between 128.70 and 128.00

Expected trend for today: Bearish