EURJPY responds to stochastic positivity – Analysis – 9-1-2019

In spite of the EURJPY pair price confinement within tight track in the last period, but stochastic reach to the overbought level increases the chances for resuming the bullish, correctional by its stability near 124.75, we expect forming a new bullish wave to test the barrier at 125.55, then suggest the neutrality until detecting the main trend in the upcoming trading.

While the stability of the barrier against the bullish correctional rally, so that will increase the chances for renewing the main bearish attack that is caused by its stability within the bearish channel levels, to repeat the pressure on 123.50 reaching to 122.70 level, to form the initial negative target for the bearish trading.

Expected trading range for today is between 124.00 and 125.55

Expected trend for today: Bullish temporarily