EURJPY under the indicators' contradiction effect – Analysis – 9-6-2017

The EURJPY pair was forced to form sideways bias yesterday by consolidating around 123.40 level, affected by the contradiction of the major indicators as appears on chart, while the continuation of 124.40 forming initial resistance allows us to suggest the correctional bearish attempts in the near term and medium term period, which targets 121.65 support line.

We remind you that rallying above 124.40 level and providing positive close above it will confirm regaining the bullish bias to force it to provide bullish attack that targets 126.10 followed by reaching the bullish channel's resistance at 127.35.

Expected trading range for today is between 124.40 and 121.65

Expected trend for today: Bearish