The EURJPY pair was affected by the strength of the 118.50 barrier last Friday. There was a quick rebound towards 116.80, which might push the price to lose the domination of the bullish correction and start expectations for a decline towards 115.05 followed by 112.90. The decline of SMA 55 below the bearish channel’s resistance and stochastic reaching the oversold areas increase the negative pressure on the current trades, thus also increasing the chances of reaching our awaited negative target. The expected trading range for today is between 118.10 and 115.05.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Overview
The EURJPY pair was affected by the strength of the 118.50 barrier last Friday. There was a quick rebound towards 116.80, which might push the price to lose the domination of the bullish correction and start expectations for a decline towards 115.05 followed by 112.90. The decline of SMA 55 below the bearish channel’s resistance and stochastic reaching the oversold areas increase the negative pressure on the current trades, thus also increasing the chances of reaching our awaited negative target. The expected trading range for today is between 118.10 and 115.05.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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