EURJPY takes advantage of the moving average positivity – Analysis – 31-10-2018

The EURJPY pair took advantage of the moving average 55 positivity that forms intraday support line now at 128.10 to provide some bullish correction and reach 128.55 level, while the stability of the current support increases the chances of renewing the correctional trades, to expect testing the bearish channel’s resistance at 128.85 in the near term period.

We remind you that attempting to crawl below the moving average 55 again and getting negative close below it will bring back the bearish bias domination to repeat the attempts to move towards the negative levels at 127.20 and 126.15.

Expected trading range for today is between 128.10 and 128.85

Expected trend for today: Bullish temporarily