EURJPY faces solid support – Analysis – 27-12-2018

The EURJPY pair declined recently strongly to achieve the suggested negative targets, noticing facing solid support at 125.50, to force the price to form clear positive rebound towards 126.40, while the contradiction of the major indicators might force the price to form intraday sideways fluctuations, while the stability of the current support increases the chances of resuming the bullish correction that might target 127.20 and 128.25 levels.

In case the price crawled below 125.50 and getting negative close, that will confirm surrendering to the domination of the bearish bias again, to expect moving towards new negative levels that start at 124.60.

Expected trading range for today is between 125.50 and 127.20

Expected trend for today: Bullish