The EURJPY surrenders to the resistance line stability – Analysis – 4-12-2020

The EURJPY pair had to stop the bullish attack affected by the strength of the bullish channel’s resistance at 126.70, to force the price to form temporary sideways fluctuation by testing the initial support 126.00, while the stability of the resistance now might force the price to form more sideways fluctuation, and in case breaking the initial support, this will confirm forming correctional bearish rebound to target 125.75 and 125.25.

Therefore, we will suggest the bearish bias conditioned by the stability of the current resistance, waiting to record the suggested correctional targets.

The expected trading range for today is between 126.70 and 125.75

The expected trend for today: Bearish