The EURJPY pair started new negative trades that hint the surrender to the bearish bias domination, reaching 123.80 level, expecting to release from 123.50 barrier and open the way to achieve more negative targets located around 122.70 followed by 122.00 levels.
Stochastic attempt to crawl towards the oversold areas reinforces the continuation of the negativity by providing the required negative momentum, also, the stability of the initial resistance 125.05 is considered as the main factor to confine trades within the negative range until achieving our targets.
The expected trading range for today is between 124.60 and 122.70
The expected trend for today: Bearish