EURJPY tends to change the main trend – Analysis – 2-1-2019

The EURJPY pair faced big negative pressures recently to notice forming new negative wave and settles below 125.50 support, while the continuous fluctuation below this level will increase the chances of changing the main trend and expect to suffer big losses that might start at 124.20 followed by 123.50.

Stochastic current consolidation within the oversold areas supports the chances of forming negative trades, to confirm the preparation to build new negative bias and wait to touch the suggested targets.

Expected trading range for today is between 126.05 and 124.20

Expected trend for today: Bearish