The EURJPY declines below the support – Analysis – 8-5-2019
Economies.com
2019-05-08 07:01AM UTC
The EURJPY pair succeeded to break the additional support at 123.50 to reinforce the domination of the bearish bias to settle at 123.20, noticing the price consolidation within the bearish channel to increase the negative pressure and expect to target new negative levels by moving towards 122.80 and 122.00 levels.
Stochastic attempt to crawl towards the oversold areas supports our bearish overview by providing new negative momentum to increase the chances of achieving the suggested additional targets.
The expected trading range for today is between 123.50 and 122.00
The expected trend for today: Bearish
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