EURJPY repeats the negative closings – Analysis – 12-2-2019

The EURJPY pair remains waiting for the negative momentum, to notice forming an intraday sideways trading by its repeated stability below the bearish channel’s resistance at 125.60, which confirms the price surrender to the bearish bias domination, to keep waiting for gaining a new negative momentum, to target several levels that are located at 123.50 and 122.60.

Note that the price attempt to jump above the bearish channel’s resistance and providing a positive close above it, so that will cancel the bearish overview, which forces it to build a strong bullish trading that might push it to reach 126.20 and 126.80.

The expected trading range for today is between 125.00 and 123.50

The expected trend for today: Bearish