The EURJPY pair kept its stability below the initial barrier that is represented by 209.45 level; however, the weakness of the last trading is caused by its neediness to the negative momentum due to stochastic exit from the oversold level as appears in the above image.

 

The price might keep providing sideways trading until gathering extra negative momentum, to reinforce the chances of attacking 177.80 level, and surpassing it will make it reach the extra negative stations near 177.35 and 176.70, while the risk of changing the trend and begin building bullish trend depends on breaching 180.80 level and holding with a daily close above it.

 

The expected trading range for today is between 178.10 and 179.40

 

Trend forecast: Bearish