The EURJPY pair confirmed its submission to the bearish corrective bias by posting a new negative close below the barrier at 186.05. The pair is currently responding to the negative pressure from the Stochastic indicator, slipping toward 185.20.

 

We expect the pair to resume its corrective attempts, targeting 184.85 and 184.40 respectively. However, a successful break above the previously mentioned barrier and holding above it would confirm the pair’s readiness to resume its main bullish attack, with the next target expected at 186.65.

 

The expected trading range for today is between 184.40 and 185.50.

 

Trend forecast: Bearish