EURJPY prepares for new negativity – Analysis – 19-11-2018

The EURJPY pair confirmed the preparation to form new negative trades in the near term and medium term period as it keeps consolidating below the moving average 55 that forms solid resistance at 128.85, thus, we will keep waiting to provide negative pressure on 127.80 initial support, while breaking it will extend trades towards 127.10 to form the second target of the negative trading.

Any attempt to breach the current barrier and getting positive close above it will postpone the negative attack and push the price to provide correctional bullish trades, to increase the chances of moving towards 129.40 followed by reaching 130.00 key resistance.

Expected trading range for today is between 128.85 and 127.80

Expected trend for today: Bearish