EURJPY tends to choose the correct trend – Analysis – 20-11-2018

The EURJPY pair’s recent trades confined within tight triangle, affected by 129.05 level forming that forms extended resistance, while the support line is located at 128.70, recommending to wait to breach one of these levels to manage to detect the main targets for the near term and medium term period.

On the other hand, getting positive close above the current resistance will confirm the preparation to target new positive levels that start at 129.40 and 130.00 levels, while crawling below the current support will put the price under strong negative pressure to suffer many losses by moving towards 128.30 followed by 127.10 levels.

Expected trading range for today is between 129.05 and 128.70

Expected trend for today: Neutral