The EURJPY still waiting the negative momentum – Analysis – 1-5-2019

The EURJPY pair continued to provide positive rebound due to lacking the negative momentum, to contradict with the consolidation within the main bearish channel, while we will continue to remind you that it is important to settle below the bearish channel’s resistance at 126.20 to confirm blocking the price within the bearish range and keep waiting to gather the negative momentum to increase the chances of recording the waited targets, represented by 123.50 followed by 122.00 levels.

Now, as stochastic approaches 80 level, we expect surrendering to the sideways fluctuations, with chances of the affection by an additional barrier at 125.60, waiting to gather new negative momentum to confirm the preparation to record the mentioned targets.

The expected trading range for today is between 125.60 and 124.50

The expected trend for today: Fluctuated within the bearish range