The EURJPY forms minor bearish wave – Analysis – 7-12-2022

The EURJPY pair formed minor bearish channel recently to reinforce the chances of forming negative waves, to notice fluctuating below the additional barrier 144.10, as gathering the additional momentum will allow the price to decline towards the first main target at 142.40 direct, while breaking it will extend trades towards 142.10 and 141.65.

On the other hand, breaching the current barrier will force the price to postpone the decline temporarily to attempt to achieve some positive gains by rallying towards 144.30 followed by reaching the bearish channel’s resistance at 144.90.

The expected trading range for today is between 144.10 and 142.70

The expected trend for today: Bearish