EURJPY forms bullish channel – Analysis – 29/7/2015
Economies.com
2015-07-29 07:19AM UTC
The EURJPY pair formed a minor bullish channel with a support line located at 136.00, while its resistance at 137.60, thus, we expect the continuation of the bullish domination for the upcoming period by holding above the mentioned support line, which is supported by the moving average 55.
The intraday negative fluctuation is caused by stochastic loss to the positive momentum, to keep waiting to gather new positive momentum followed by reaching our waited targets at 137.30 then 137.60.
Expected trading range for today is between 136.00 and 137.60
Expected trend for today: Bullish
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