EURJPY keeps the temporary negativity – Analysis – 8-8-2018

The EURJPY pair provided intraday positive rally, while its stability below 130.00 resistance confirms the intraday affection by the correctional bearish bias domination, thus, we will keep waiting to crawl towards testing the key support 127.90 followed by monitoring the price behavior due to its importance to determine the next main trend.

The stability of the moving average 55 around the mentioned resistance supports the negative overview, also, stochastic fluctuation around 20 level hints the attempt to provide additional negative momentum to increase the chances of reaching the suggested target.

Expected trading range for today is between 129.80 and 127.90

Expected trend for today: Bearish