EURJPY needs new momentum – Analysis – 15-8-2018

The EURJPY pair was forced to provide some mixed sideways trades recently due to the lack of the negative momentum that supports the main stability within the bearish channel, while the continuous stability of 127.70 resistance confirms surrendering to the negative attempts, to expect gathering the required momentum to attack 125.40 level followed by approaching the first main target at 124.70.

Stochastic exit from the oversold areas might force the price to form additional sideways trades until succeeding to gather the required negative momentum to achieve our targets.

Expected trading range for today is between 126.50 and 125.40

Expected trend for today: Bearish