EURJPY moves slowly – Analysis – 28-7-2017

Despite the consolidation of the EURJPY pair within the bullish range recently, mainly the stability above 128.55 main support, but we notice providing slow trading due to lacking the positive momentum, while stochastic attempt to exit the overbought areas forms the main factor to the current sideways trading, to keep waiting to gather new bullish momentum and push the price to resume the positive attack to reach 132.25 as a first positive station.

We should be careful in case the price declined below the above mentioned main support, to avoid any losses that might be caused by forming correctional bearish bias that could push the price to decline towards 126.70 followed by 125.15 levels.

Expected trading range for today is between 129.80 and 132.25

Expected trend for today: Bullish