EURJPY returns to the sideway trading – Analysis – 6-1-2017

The EURJPY price didn’t record any new until this moment, to return to form sideways trading by its fluctuation below the resistance at 124.00 for today, we notice that there is clear contradiction between the main indicators increases the chances for the sideways bias domination in the near trading, which confines the price between 123.30 and 121.60 level.

To confirm the suggested negativity, the price needs to provide negative close below 121.60 level, to begin forming a bearish correctional bias, and 120.00 level forms the initial target in the upcoming period.

Expected trading range for today is between 123.50 and 121.60

Expected trend for today: sideways