EURJPY still negative – Analysis – 17-8-2018

The EURJPY pair still affected by the bearish bias domination as it consolidates within the bearish channel besides the stability of the main resistance 127.40, while the price needs to get rid of the indicators’ contradiction to increase the chances of gathering new negative momentum followed by repeating the pressure on 125.40 level, followed by reaching the next negative target at 124.70.

The consolidation of the moving average 55 above the main resistance confirms blocking the price within the expected negative range, also, stochastic stability below 50 level will confirm the preparation to provide negative momentum that confirms the attempt to reach the suggested targets.

Expected trading range for today is between 126.55 and 125.40

Expected trend for today: Bearish