The EURJPY pair kept its stability within the bearish channel depending on the strength of 125.90 resistance, to notice the beginning of forming some negative fluctuations by settling at 125.10, expecting to gather new negative momentum to reach 124.40 level direct, followed by waiting to provide new negative pressure on 123.50 support.
The consolidation of the moving average 55 near the bearish channel’s resistance besides stochastic release from the overbought areas provide factors that agree the negative overview, to keep waiting to record the mentioned initial targets.
The expected trading range for today is between 125.40 and 124.40
The expected trend for today: Bearish