The EURJPY resumes the decline – Analysis – 27-8-2019

The EURJPY pair didn’t succeed until this moment by forming any bullish rally, affected by the continuation of the main indicators contradiction, to notice its fluctuation slowly, attempting to settle above the bullish channel’s support at 117.00.

The bullish correctional scenario depends on the strength of the current support, to increase the chances for forming a positive trading that might target 119.00 level initially, while the price attempt to break the current support, so that will confirm canceling the positive overview, to begin forming a strong negative attack to suffer big losses by reaching 115.80 and 114.90.

The expected trading range for today is between 117.00 and 119.00

The expected trend for today: Bullish