EURJPY is forced to test the support – Analysis – 13-10-2017
Economies.com
2017-10-13 07:57AM UTC
The EURJPY pair lost its bullish momentum yesterday as stochastic declined below 80 level, to test 132.05 support again, noticing that the current support forms 50% Fibonacci correction, while settling above it allows us to suggest the bullish attempts and start recording gains by reaching 134.55 followed by 137.00.
We should note that getting any negative close below the key support will postpone the bullish rally and move to suffer big losses by moving towards 130.55 followed by reaching the moving average 55 around 129.45.
Expected trading range for today is between 132.05 and 134.55
Expected trend for today: Bullish
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