The EURJPY pair moves within a tight range affected by the stability of the 112.30 support, settling below the 114.20 resistance until this moment. Besides, the ongoing contradiction of the major indicators supports the sideways domination for the current period. The price is likely to breach one of the mentioned levels. Consolidation within the bearish channel increases the chances of new negative wave formation, which would renew the attempts to break the above mentioned support and resume the negative attack, as well as start recording the waited targets that start at 111.30 then 110.00. The expected trading range for today is between 114.20 and 112.30.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Overview
The EURJPY pair moves within a tight range affected by the stability of the 112.30 support, settling below the 114.20 resistance until this moment. Besides, the ongoing contradiction of the major indicators supports the sideways domination for the current period. The price is likely to breach one of the mentioned levels. Consolidation within the bearish channel increases the chances of new negative wave formation, which would renew the attempts to break the above mentioned support and resume the negative attack, as well as start recording the waited targets that start at 111.30 then 110.00. The expected trading range for today is between 114.20 and 112.30.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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