EURJPY touches the bullish channel's resistance – Analysis – 28-6-2017

The EURJPY pair showed strong bullish attack yesterday to surpass the first main target at 126.10 and succeed to touch the bullish channel's resistance at 127.80, while the upcoming scenario depends on the strength of the current resistance, expecting to form intraday sideways bias that might force the price to test 126.30 level, forming the extension of the initial support, followed by attempting to gather new positive momentum to resume the bullish attempts until reaching the next positive target at 129.15.

Stochastic rally towards the overbought areas reinforces the continuation of the positivity for the near term and medium term trading, but we assure the importance of breaching the bullish channel's resistance to ease the attempt of reaching the second target.

Expected trading range for today is between 126.30 and 129.15

Expected trend for today: Bullish