EURJPY tests 61.8% Fibonacci level – Analysis – 4-1-2019

The EURJPY pair was forced to form correctional bullish rebound affected by stochastic positivity, to notice rallying towards 61.8% Fibonacci correction level at 123.50, while the stability of this level and forming new resistance will support the continuation of the negativity, to expect renewing the negative attack and press on 122.10 level followed by repeating the pressure on 119.00 level.

Therefore, we will keep our bearish overview unless breaching 123.50 level, as it will push to form new correctional waves that might target 124.60 followed by 125.55 levels.

Expected trading range for today is between 123.50 and 122.10

Expected trend for today: Bearish