The EURJPY pair faced new negative pressures to crawl below the moving average 55 at 120.00, consolidating within the bearish channel as appears on the chart.
Note that stochastic attempt to provide additional negative momentum by exiting the overbought areas would increase the chances of renewing the negative fluctuations, expecting to move towards 118.50 followed by 117.65 levels.
The expected trading range for today is between 120.20 and 118.50
The expected trend for today: Bearish