The EURJPY pair confirmed its surrender to the bearish corrective bias dominance by providing several negative closes below 181.75 barrier, forming some corrective trading by targeting 179.75 level.

 

Despite the main stability within the bullish channel’s levels, the stability below the previously mentioned barrier and stochastic attempt to provide negative momentum support the dominance of the corrective bias, to target the initial support at 179.30 and breaking it might extend the trading towards 178.60, forming the main target of the current trading.

 

The expected trading range for today is between 179.30 and 181.10

 

Trend forecast: Bearish