EURJPY needs new momentum – Analysis – 19-7-2018

The EURJPY pair is affected by the contradiction between the major indicators, to lose its positive momentum as stochastic exits the overbought areas, while we expect to form some sideways trading now, noting that it is important to hold above 131.00 to confirm the continuation of the positivity for the upcoming period to target 132.20 followed by 133.10 levels.

We remind you that the price attempt to crawl below the current support might force it to postpone the bullish attack and push the price to provide correctional bearish trades, to target 130.35 then 129.60 levels before recording any waited target.

Expected trading range for today is between 131.00 and 132.20

Expected trend for today: Bullish