EURJPY ends the negative attempts – Analysis – 10-5-2018

The EURJPY pair confirmed ending the bearish attempts by providing new positive close above the support at 129.25, to form a new bullish rally and its stability at 130.50, we expect targeting 23.6% Fibonacci correction level at 131.00, to confirm that surpassing this level is important to open the way towards achieving more of the targets in the upcoming period by reaching 131.55 and 132.20.

Note that the price failure to surpass the mentioned barrier, which might support the sideways bias domination, and there is a possibility to rebound to 129.80 until gathering new positive momentum, to repeat the attempts of achieving the breach and reaching the mentioned positive targets.

Expected trading range for today is between 129.80 and 131.00

Expected trend for today: Bullish