The EURJPY faces key barrier – Analysis – 18-10-2019

The EURJPY pair’s trades extended towards 131.32 recently, facing 50% Fibonacci correction level to form solid barrier against the bullish rally, while the current expected trend depends on the strength of this barrier, as its stability allows us to expect the beginning of forming negative fluctuation to repeat the pressure on 120.05 level.

On the other hand, responding to the frequent positive pressures and rallying above the current barrier will confirm moving into main bullish track, expecting to start targeting new positive levels by moving towards 121.80 and 122.60 levels.

The expected trading range for today is between 121.35 and 120.05

The expected trend for today: Bearish