The EURJPY eases testing the critical support– Analysis – 22-3-2019

The EURJPY pair declined yesterday below 126.20 level, announcing its surrender to the bearish correctional bias domination, to notice suffering several losses by reaching 124.80, note that if there is a good chance against testing the critical at 124.30, to monitor its behavior in case hitting this barrier, due to its importance to detect the main trend in the upcoming trading.

The price gets its negative momentum from the stability of the moving average 55 near 50% Fibonacci correction level, besides stochastic reach to the oversold, note that breaking the critical support, so that will reinforce the continuation of the negativity, opening the way for suffering extra losses that might begin at 123.60.

The expected trading range for today is between 125.10 and 126.20

The expected trend for today: Sideways