The EURJPY declines below the support – Analysis – 23-9-2022

The EURJPY pair hinted postponing the bullish attack after facing strong negative pressures and crawling below 141.15 support line, to suffer clear losses by moving towards 138.70, while the attempt of the broken support to form new resistance allows us to suggest more negative attempts on the near term and medium term period, to attempt to target new negative stations that might start at 137.70 and 136.80.

Note that stochastic exit from the overbought areas will assist to reinforce the domination of the bearish bias for now by providing the negative momentum, to keep waiting to reach the suggested negative stations.

The expected trading range for today is between 140.60 and 138.30

The expected trend for today: Bearish