Forex

The EURJPY declines slowly – Analysis – 17-7-2019

2019-07-17 06:41:41 GMT (Economies.com)

Despite that the EURJPY pair gathered new negative momentum recently, caused by stochastic reach to 20 level, we notice providing slow trades to keep its stability above 121.00 level, while the price needs to break the intraday support at 120.80 to manage to record the main targets at 119.60 followed by 118.80 levels.

 

Stochastic attempt to crawl towards the oversold areas reinforces our negative overview by providing new negative momentum and increases the chances of achieving the required break to start recording the mentioned targets.

 

The expected trading range for today is between 121.45 and 120.00

 

The expected trend for today: Bearish

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