EURJPY tends to change the trend – Analysis – 5-10-2018

The EURJPY pair failed to resist the negative pressures, to notice its fluctuation below the bullish channel’s support line at 131.20, forming clear signal to change to the main trend, while the stability of the broken support and forming new resistance will increase the chances of forming negative attack in the near term period, to target 129.85 followed by 128.95 levels in the upcoming period.

Also, the consolidation of the moving average 55 around the broken support increase its stability against the current fluctuations, to agree with stochastic negativity that attempts to provide new negative momentum by settling around 20 level.

Expected trading range for today is between 131.20 and 129.85

Expected trend for today: Bearish