EURJPY surrenders to stochastic negativity – Analysis – 3-9-2018

The EURJPY pair formed strong negative rebound recently, affected by stochastic negative stability within the oversold areas, to provide negative close below 128.80 level, while the continuous fluctuation below this barrier will increase the chances of forming new negative attack to expect suffering additional losses by moving towards 128.10 followed by reaching 126.70.

Regaining the bullish attempts requires forming strong bullish attack to surpass the moving average 55 at 129.35, to increase the chances of gathering new positive momentum followed by repeating the attempts to reach 131.10 extended resistance.

Expected trading range for today is between 129.35 and 128.10

Expected trend for today: Bearish