The EURJPY repeats the fluctuation within the bearish range – Analysis – 08-10-2019

The EURJPY pair formed a temporary positive rebound, affected by stochastic rally above 50 level recording 117.85 level, but the continuation of forming an extra resistance at 118.40 level supported the continuation of the bearish trend scenario that targets 117.10 and 116.50 level in the near and medium period trading.

While the price rally above 118.40 level and providing a positive close confirms delaying the negative attack, which forces it to build a strong bullish correctional trading, and there is a chance for hitting the moving average 55 at 119.60.

The expected trading range for today is between 118.40 and 117.10

The expected trend for today: Bearish