EURJPY returns to the negativity – Analysis – 6-2-2019

The EURJPY pair did not hold for long time above 125.60 level that formed additional resistance against the correctional bullish attempts, to notice the beginning of forming negative trades and reaching 125.05, while the stability of the price within the bearish channel confirms the preparation to target additional negative levels by moving towards 24.45 followed by 123.50.

Stochastic release from the overbought areas confirms getting rid of the positive pressures, to expect the beginning of gathering the negative momentum and ease the mission of reaching the mentioned negative stations.

The expected trading range for today is between 125.60 and 124.45

The expected trend for today: Bearish