EURJPY surrenders to the positive correction – Analysis – 7-1-2019

In spite of the EURJPY pair price stability within the bearish channel levels, but the contradiction between the main indicators and its rally above 123.50 level confirms delaying the negative attack, to increase the chances for forming temporary bullish correctional trading.

And that makes us prefer some of the intraday bullish rally in the near period, to expect targeting 124.60 and 125.55 level, while the price attempt to reach below 123.50 level will confirm its readiness to regain the bearish bias that targets 122.10 level, to press on the bearish channel’s support that appears in the above image.

Expected trading range for today is between 123.50 and 124.60

Expected trend for today: Bullish temporarily