EURJPY settles against the negative pressures– Analysis – 17-5-2018

The EURJPY pair remains affected by the main indicators negativity, which led the price to test the critical support at 129.50 for today, reminding you that the stability of this support will confirm the price readiness to renew the bullish attempts, to wait for gathering new positive momentum that allows it to rally above 131.00 level, then begin gathering the expected gains by reaching 131.60 and 132.20.

Until the price succeeded to gather the positive momentum and ending the negative pressures that come from the main indicators, we expect that the trading will be confined between the mentioned critical support and 131.00 level in the near period, as it forms 23.6% Fibonacci correction level.

Expected trading range for today is between 129.50 and 131.00

Expected trend for today: fluctuated