The EURJPY needs new negative momentum – Analysis – 8-12-2022

The EURJPY pair touched 143.15 level yesterday, followed by starting to form positive waves due to the lack of the negative momentum, to move towards the additional barrier 143.85, while the contradiction between the major indicators’ positivity against the main stability within the minor bearish channel might force the price to provide sideways trades until gathering the negative momentum, to ease the mission of reaching the negative stations at 142.70 and 142.10.

On the other hand, regaining the bullish bias requires breaching the bearish channel’s resistance at 145.00 to open the way to target many positive stations in the upcoming period by reaching 145.65.

The expected trading range for today is between 144.10 and 142.70

The expected trend for today: Bearish