The EURJPY renews the negative fluctuation – Analysis – 7-8-2019

The EURJPY pair confirms its affected by the bearish bias domination by providing negative close below the initial resistance 120.70, to increase the chances of the decline and starting to record the waited negative targets, expecting to press negatively on 118.60 level to break it and allow the price to reach the main support at 117.45.

The above chart shows the stability of trading within the main bearish channel, to reinforce our negative overview for the upcoming period, while stochastic contradiction by rallying towards 50 level might force the price to form sideways fluctuation until gathering new negative momentum to ease the mission of reaching the main negative stations.

The expected trading range for today is between 120.00 and 118.00

The expected trend for today: Bearish