The EURJPY pair succeeded to build new bearish channel to reinforce the bearish scenario, depending on the strength of 120.10 resistance by suffering new negative trades in the near term and medium term period.
Also, the stability of the moving average 55 around the major resistance confirms blocking the price within the negative range, expecting to move towards 117.65 followed by attempting to press on 116.30 level in order to move into new negative track in the upcoming period.
The expected trading range for today is between 120.00 and 117.65
The expected trend for today: Bearish