EURJPY still negative – Analysis – 14-8-2018

Despite the EURJPY pair’s forming positive rebound yesterday, its consolidation within the main bearish channel confirms the surrender to the bearish bias domination, also, the stability of 127.60 resistance forms the main factor to block the price within the bearish range, waiting to gather new negative momentum in the near term period.

Therefore, we will continue to suggest the negative overview and wait to provide new pressure on 125.40 level, as breaking it will allow the price to touch the first target at 124.70.

Expected trading range for today is between 127.05 and 125.40

Expected trend for today: Bearish