EURJPY still negative – Analysis – 8-10-2018

The EURJPY pair was affected by intraday sideways actions recently, due to the contradiction of the major indicators, while its fluctuation below the broken bullish channel’s support at 131.35 supports the negative overview for the upcoming trading, as gathering new negative momentum will support the preparation to record new negative targets by moving towards 129.85 followed by reaching 128.95 in the upcoming period.

On the other hand, rallying above 131.35 level will cancel the negative overview to prepare to react positively by settling within the bullish channel, expecting to rally towards 131.70 and 132.20 levels.

Expected trading range for today is between 131.35 and 129.85

Expected trend for today: Bearish