The EURJPY tests the initial resistance – Analysis – 10-10-2019

Economies.com
2019-10-10 08:37AM UTC

The EURJPY pair ended the bullish correctional rebound by testing the initial resistance at 118.40, to form a true obstacle against delaying the bearish attack, gathering a new negative momentum will ease the price mission to decline in the near period to 117.10 level, and breaking it will make the price succeed to reach new negative stations that might begin at 115.80.

 

Note that breaching the current barrier will ease delaying the negative attack, which forces it to form new bullish correctional rebounds that might push it to reach to the moving average 55 at 119.65.

 

The expected trading range for today is between 118.40 and 117.10

 

The expected trend for today: Bearish

 

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