The EURJPY touches some negative targets – Analysis – 6-5-2019

The EURJPY pair formed bearish gap recently, reinforcing the continuation of the negativity by recording some targets by touching 123.50 level, and due to the strength of this barrier, we expect forming some sideways fluctuation until gathering new negative momentum followed by waiting to break this barrier in order to target additional negative levels that might start at 122.85 and 122.00 levels.

In general, the price consolidation within the bearish channel and stochastic continuous negative momentum signals by fluctuating around 20 level form factors that agree the bearish overview, to increase the chances of achieving the required break to the current support.

The expected trading range for today is between 124.40 and 122.80

The expected trend for today: Bearish