EURJPY tends to change the main trend – Analysis – 9-7-2018

The EURJPY pair formed new positive wave recently to surpass the bearish channel’s resistance at 129.60, attempting to change the previously dominating negative trend, noticing that the price faces the moving average 55, to assure the importance of surpassing this barrier at 130.10 to confirm its preparation to form strong bullish attack and target 130.80 followed by reaching 132.20 in the upcoming period.

Our bullish overview will depend on the stability of the breached resistance to form the new key support, noting that stochastic reach to the overbought areas will provide the price with new positive momentum and assist to achieve the required breach followed by reaching our targets.

Expected trading range for today is between 129.60 and 130.80

Expected trend for today: Bullish