EURJPY provides positive signal – Analysis – 20-2-2019

The EURJPY pair provided positive signal yesterday by rallying above 125.45 level, attempting to exit the negative track, while confirming the preparation to build strong bullish trades needs a jump above 50% Fibonacci correction level at 126.20 to confirm the preparation to achieve new positive targets that might start at 127.05 followed by 128.30.

Stochastic approach to 80 level increases the chances of gathering the positive momentum, but we assure again the importance of providing positive close above 126.20 to avoid any losses that might appear due to the sudden decline and settling within the bearish channel again.

The expected trading range for today is between 125.30 and 126.20

The expected trend for today: Fluctuated positively