EURJPY seeks new momentum – Analysis – 25-2-2019

The EURJPY pair is forced to provide extra sideways trading, due to its neediness to the positive momentum, to notice its stability near the critical support at 125.40, the continuation of this support stability makes us wait for gathering the required momentum, which allows it to surpass the barrier at 126.20, then reaching to the next target at 127.05 level.

Stochastic surpass to the overbought level forms the main factor for the current sideways trading, due to its contradiction with the price stability above the main support, therefore, we recommend monitoring the price behavior, to avoid any attempt to regain the bearish bias by breaking the current support, to avoid suffering unexpected losses.

The expected trading range for today is between 125.40 and 126.20

The expected trend for today: Bullish