Forex

The EURJPY presses on the resistance – Analysis – 11-3-2019

2019-03-11 07:34:30 GMT (Economies.com)

The EURJPY pair attempted to renew the pressure on the bearish channel’s resistance at 125.00, affected by stochastic attempt to exit the oversold areas, but the continuous stability of this resistance is considered as a major reason to confirm the bearish bias domination that targets 123.50 level initially, followed by waiting to target 122.20 level.

 

We remind you that succeeding to breach the current resistance will increase the chances of regaining the bullish bias to expect rallying towards 126.20 and press on 50% Fibonacci correction level that appears on the chart.

 

The expected trading range for today is between 125.00 and 123.50

 

The expected trend for today: Bearish

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