The EURJPY hits the second target – Analysis – 11-7-2022

The EURJPY pair surrendered to the negative pressures represented by the stability of 139.80 resistance in addition to stochastic negative momentum to notice resuming the decline and touching the next target at 137.40.

The price might face difficulty to resume the decline by facing 38.2% Fibonacci correction level near 136.75, which allows us to monitor its behavior to avoid any losses that might appear due to forming positive rebound in the upcoming period, while breaking this obstacle will confirm its preparation to target new negative stations that might start at 135.60 followed by reaching 134.40 levels.

The expected trading range for today is between 138.20 and 136.75

The expected trend for today: Bearish