EURJPY looks for an extra momentum– Analysis – 22-5-2018

In spite of the stability of the EURJPY pair within the bullish channel levels, but the strength of the barrier at 131.00 forms a main reason for providing an intraday sideways trading as appears in the above image, we recommend waiting until gathering new positive momentum and providing positive close above the current barrier, to confirm the continuation of the positivity that targets 131.60 and 132.20 level.

While the stability of the current barrier will increase the chances for forming an intraday negative rebound, to expect suffering temporary losses by reaching 130.10 reaching to the main support at 129.35.

Expected trading range for today is between 130.10 and 131.00

Expected trend for today: sideways