The EURJPY pair ended the recent correctional bearish trades by providing negative close below the bullish channel’s support line at 121.30, hinting moving into new negative track, to expect targeting new negative levels that might start at 120.30.
The negative overview will depend on the stability of 50% Fibonacci correction level at 121.65, to form solid resistance against the negative trades, also, stochastic reach to the oversold areas will ease the mission of gathering additional negative momentum in the upcoming period.
The expected trading range for today is between 121.30 and 120.30
The expected trend for today: Bearish