EURJPY needs new negative close – Analysis – 24-10-2018

Despite the EURJPY pair’s recent consolidation within the bearish range, failing to get a negative close below the initial support 128.80 forces the price to form more sideways trades by settling around 129.15, while the wide sideways range that dominates the price between the current support and 130.30 resistance allows us to stay aside to avoid any losses that might appear due to the mixed sideways trading, and wait to get the required negative close.

We remind you that succeeding to decline below the current support will open the way to form strong negative attack to attempt to record more negative targets by moving towards 128.05 followed by 126.90 levels.

Expected trading range for today is between 129.75 and 128.80

Expected trend for today: Neutral