EURJPY still slow – Analysis – 18-1-2018

The EURJPY pair still affected by the sideways bias domination to provide frequent slow trades by settling around 135.50 level, noting that the price consolidation within the bullish channel besides 134.80 forming initial support form main factors to confirm the bullish attempts that target 137.00 followed by 138.85 after surpassing the previous level.

Stochastic attempt to exit the overbought areas forms main factor to the current sideways trading, but that increases the chances of getting new positive momentum in the near term period and eases the attempt to reach the waited targets.

Expected trading range for today is between 134.80 and 137.00

Expected trend for today: Bullish