The EURJPY fails to regain the positivity – Analysis – 11-9-2020

The EURJPY pair attempted to regain its bullish bias by forming bullish wave, recording 126.44 level, while providing new negative close below the bullish channel’s support line at 125.90 reinforces the domination of the bearish bias for the upcoming period.

Also, stochastic continues to provide the negative momentum by reaching 20 level, allowing us to wait to crawl below the moving average 55 at 125.45 to open the way to target new negative levels that might extend to 124.12 followed by 123.40 on the near term and medium term period.

The expected trading range for today is between 125.90 and 124.10

The expected trend for today: Bearish