EURJPY still negative – Analysis – 18-2-2019

The EURJPY pair was forced to form intraday positive rebound affected by the contradiction of the major indicators, to approach the bearish channel’s resistance at 125.60, reminding you that it is important to hold below this resistance to confirm the continuation of the suggested negativity that target the stability below 124.20 level to press on 123.50 support line.

On the other hand, rallying above the current resistance and getting positive close above it will confirm getting rid of the bearish bias domination, to expect forming strong bullish rally and target many positive levels that start at 126.20.

The expected trading range for today is between 125.60 and 124.20

The expected trend for today: Bearish