EURJPY presses on the support – Analysis – 16-1-2019

The EURJPY pair responded to stochastic negativity yesterday, to notice providing clear pressure on 123.50 support line, as this barrier represents the key line between the attempt to resume the correctional bullish attack and renewing the negative attempts in the upcoming period.

Now, as the support line remains intact against the fluctuations, we will continue to suggest the correctional bullish bias that targets 124.80 followed by 125.55 levels, while breaking the current support will open the way to suffer additional losses by moving towards 122.75 followed by 121.55 levels.

Expected trading range for today is between 123.50 and 124.80

Expected trend for today: Bullish