The EURJPY needs to break the support – Analysis – 17-5-2019

The EURJPY pair did not record any new negative level until this moment, affected by the stability of 122.00 support that blocks the attempts to resume the main bearish attack, reminding you that the price consolidation within the bearish channel and 123.50 level forming additional resistance will allow us to wait to break the current additional support to ease the mission of recording new negative targets that might start at 121.20 followed by 120.30.

Stochastic crawl below 50 level increases the chances of gathering the additional negative momentum, which eases the mission of forming new negative attack to achieve the required break.

The expected trading range for today is between 122.65 and 121.20

The expected trend for today: Bearish