The EURJPY fluctuates within the bearish track – Analysis – 6-12-2022

Economies.com
1 month ago

The EURJPY pair faced sudden positive pressures yesterday after stochastic exit from the oversold areas, to force it to form bullish wave and fluctuate above the bullish channel’s support line at 142.45, followed by testing the additional barrier by reaching 144.00.

 

Note that the stability of the mentioned barrier might force the price to renew the negative attempts in order to exit the bullish track again and resume the negative trades by crawling below 142.40 and reach 141.50 as a first negative target for the bearish track, while surpassing the barrier will provide chances to achieve some gains by moving towards 145.10.

 

The expected trading range for today is between 144.00 and 142.70

 

The expected trend for today: Bearish

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