The EURJPY still negative – Analysis – 4-6-2019

Despite the EURJPY pair facing temporary positive pressure yesterday and forming bullish wave, its frequent stability below 122.00 barrier confirms surrendering to the bearish bias domination, thus, we will keep our negative overview and wait to gather new negative momentum to manage to reach the negative targets at 120.30 and 119.65 levels.

Note that attempting to jump above 122.00 barrier and getting positive close above it will postpone the negative attack to force the price to provide some bullish correction, with chances to move towards 122.60 followed by reaching 61.8% Fibonacci correction level at 123.50.

The expected trading range for today is between 122.00 and 120.60

The expected trend for today: Bearish