EURJPY faces the extension of a historical support – Analysis – 5-3-2018

The EURJPY pair succeeded to reach below 50% Fibonacci correction level, but facing an extension for a historical support extension to 129.55 that formed a new obstacle against resuming the bearish attack, the upcoming scenario depends on the strength of the current support, and the price readiness to regain the bullish bias, to target 131.80 level as a first positive station.

While facing extra negative pressure and its reach below the current support will turn the bearish suggestion, to resume suffering losses that extend to 129.10 reaching to 128.25 in the upcoming period.

Expected trading range for today is between 129.55 and 130.80

Expected trend for today: Bullish