EURJPY responds to stochastic negativity – Analysis – 2-10-2018

The EURJPY pair surrendered to stochastic negativity recently, to postpone the main bullish attack and provide intraday negative rebound by recording 131.65 level, while the continuous negative pressure forces the price to test the bullish channel’s support line at 130.85 to increase the chances of gathering the positive momentum followed by repeating the attempts to reach the positive targets at 132.50 and 133.10.

We should note that attempting to crawl below the bullish channel’s support will confirm forming new negative track, expecting to target new negative levels that might start at 129.95 followed by 128.80.

Expected trading range for today is between 131.20 and 132.50

Expected trend for today: Fluctuated within the bullish range