EURJPY surrenders to the positive pressures – Analysis – 13-12-2018

Economies.com
2018-12-13 07:46AM UTC

The EURJPY pair surrendered to the positive pressures yesterday, to notice forming new bullish wave and surpass the bearish channel’s resistance at 128.70, which confirms getting rid of the bearish bias domination and start suggesting the bullish attempts again, expecting to surpass 129.25 level to resume the bullish attack and targets 130.20 followed by 130.85.

 

We should note that it is important to hold above 128.55 level that forms the extension to the current support, besides that stochastic move within the overbought areas assists to confirm the positivity by providing new positive momentum now.

 

Expected trading range for today is between 128.55 and 129.25

 

Expected trend for today: Bullish

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