Overview
The EUR/JPY pair returned to provide new bearish trading below 120.60 level, to confirm its affection by the bearish bias domination in the upcoming trading, and the moving average 55 decline to 121.20 level. It forms new resistance which increases the negative pressure on the upcoming trading, to wait for recording the targets at 120.00 reaching to 118.60 level. Stochastic's sharp decline to the oversold level supports the negative suggestion for the upcoming trading, providing extra negative momentum that allows the price to record the targets in the near and medium trading. The expected trading range for today is between 120.80 and 118.60.
The material has been provided by InstaForex Company - www.instaforex.com