The EURJPY needs to confirm the break – Analysis – 30-5-2019
Economies.com
2019-05-30 07:41AM UTC
The EURJPY pair declined below 122.00 support line yesterday, but it didn’t confirm the break after bouncing quickly towards 122.20, to prefer waiting to get negative close below the current support to confirm moving into new negative track followed by waiting to reach the negative stations represented by 121.32 and 120.30 levels.
Note that failing to confirm the required break will force the price to form mixed trades with chances to provide correctional bullish rebound to extend trading towards 122.80 followed by reaching 61.8% Fibonacci correction level at 123.50.
The expected trading range for today is between 122.45 and 121.20
The expected trend for today: Bearish
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