The EURJPY achieves the targets – Analysis – 5-8-2019

The EURJPY pair continued forming a strong negative trading, to notice its reach to the main bearish channel’s support, recording the main target at 117.70, due to the importance of the current level when detecting the main trend, we recommend staying aside for today, and wait for the next daily close to detect the main targets in the upcoming period.

While the stability of the price above the current support confirms the beginning of forming a bullish correctional trading, to target 118.90 and 120.00 level, while breaking the support will confirm its move to a new negative track to force it to suffer new losses by reaching 116.60 and 114.85.

The expected trading range for today is between 117.30 and 118.90

The expected trend for today: Neutral