EURJPY returns to the bearish track – Analysis – 10-8-2018

The EURJPY pair succeeded to regain the bearish bias to notice entering the bearish channel and record 126.80 level this morning, while we will depend on the stability of the bearish channel’s resistance at 128.00 to increase the chances of achieving new negative targets that might start at 126.10, to face 50% Fibonacci correction level.

Also, we notice stochastic consolidation within the oversold areas until this moment, to increase the chances of gathering the negative momentum and confirm the attempt to reach the suggested target.

Expected trading range for today is between 127.70 and 126.00

Expected trend for today: Bearish