EURJPY fluctuates below the resistance – Analysis – 10-10-2018

The EURJPY pair formed new sideways fluctuation, to delay the main bearish attack on the intraday basis, depending currently on the stability of the resistance at 130.60, to form a strong barrier against the attempt of changing the trend, gaining negative momentum makes us expect achieving the negative levels that located at 129.00 and 129.05.

Stochastic attempt to reach the overbought level supports surpassing the positive pressures that decelerates the negative track, to increase the chances for gaining the negative momentum, to begin recording the mentioned targets.

Expected trading range for today is between 130.60 and 129.00

Expected trend for today: Bearish