EURJPY repeated the negative closes – Analysis – 27-12-2016

The EURJPY price repeated negative closes below the bearish channel’s resistance at 123.85, to support the beginning of forming the expected negative attack, therefore, we will keep waiting for the price reach to 121.60 initially, and breaking it will open the way towards recording more of the targets that begin at 120.00.

Stochastic attempts to support the negative expectation, by its stability below 50 level, which provide new negative momentum, which increases the chances for forming bearish waves until achieving the suggested targets.

Expected trading range for today is between 123.30 and 121.60

Expected trend for today: Bearish