EURJPY without any change – Analysis – 5-7-2018

No change to the EURJPY pair’s trades that keeps fluctuating below the bearish channel’s resistance line at 129.70, confirming the affection of the main bearish bias domination, while stochastic current decline below 50 level allows the price to gather new negative momentum to increase the chances of recording the waited targets at 128.20 followed by 127.00.

Attempting to breach the current resistance will cancel the negative overview by exiting the bearish bias and increases the chances of forming new bullish rally to expect targeting 130.80 level initially followed by reaching 23.6% Fibonacci correction level at 132.20.

Expected trading range for today is between 129.60 and 128.20

Expected trend for today: Bearish