The EURJPY repeats pressing on the barrier– Analysis – 16-10-2019

Economies.com
2019-10-16 07:03AM UTC

The EURJPY pair formed a new bullish waves to repeat the pressure on the barrier at 120.05, which represents 38.2% Fibonacci correction level, note that the expected scenario in the current period depends on the strength of this barrier, and its stability makes us expect renewing the negative attempts, targeting 119.00 reaching to 118.40 level.

 

Breaching this barrier will delay the negative attack temporary until its rally to the upside, to test the bearish channel’s resistance at 121.10.

 

The expected trading range for today is between 120.05 and 119.10

 

The expected trend for today: Bearish

 

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