The EURJPY pair failed in resuming the bullish track, due to its fluctuation below 184.40 level, to form bearish wave to settle near 183.50 level.

 

The suggested scenario in near trading depends on the strength of the mentioned barrier, as its stability makes us expect forming bearish waves to attempt to reach 182.90 and 182.50, while the price rally above the barrier and providing positive close will increase the chances of forming extra gains, to expect its rally towards 184.80 and 185.45 directly.

 

The expected trading range for today is between 182.90 and 184.00

 

Trend forecast: Bearish