The EURJPY keeps the negativity – Analysis – 18-2-2020

The EURJPY pair repeated providing negative trades recently to notice approaching our target at 118.55, to press on 23.6% Fibonacci correction level, expecting to get more negative momentum signals by the major indicators to attempt to crawl below the current support and resume recording the negative targets by moving towards 117.50 followed by 116.90.

The risks of changing the current trend will appear in case the price rallied above 119.80, which increases the chances of forming correctional bullish trades that might push the price to test 120.30 before recording any new negative target.

The expected trading range for today is between 119.50 and 117.80

The expected trend for today: Bearish