The EURJPY delays the negative attack– Analysis – 27-11-2019

The EURJPY pair forced to delay the negative attack by its rally recently above the moving average 55, to increase the chances for testing the bearish channel’s resistance at 120.70, and stochastic began to provide positive momentum by surpassing the overbought level, which makes us prefer the temporary positive fluctuation until hitting the mentioned resistance.

We should mention that the price attempt to reach below 119.90 level and providing a negative close will confirm renewing the negative attempts to press at 119.10 level initially, then attempt to record new negative attempts that might begin at 118.60.

The expected trading range for today is between 119.90 and 120.70

The expected trend for today: Bullish temporarily.