EURJPY moves within tight range – Analysis – 14-1-2019

The EURJPY pair was hesitant recently due to its consolidation within the bearish channel, along with that 123.50 level continuous to form additional support that reinforces the correctional bullish attempts that might target 125.55 level, while the stability of the current levels allows us to continue suggesting the correctional bullish bias until achieving the target, assuring the importance of monitoring the price behavior in case reaching the mentioned additional support.

We should note that breaking 123.50 level and getting negative close will reinforce the continuation of the negativity for the upcoming period, allowing us to suggest the attempt to move towards 122.75 followed by 121.50 levels.

Expected trading range for today is between 123.50 and 125.00

Expected trend for today: Bullish