EURJPY tends to the bullish correction – Analysis – 30-10-2018

The EURJPY pair jumped above the moving average 55 yesterday, which forms an extra resistance at 127.60 to delay the negative attack, to begin forming a bullish correctional trading by reaching to 128.30.

Stochastic reach to the overbought level increases the chances for providing new bullish trading, to expect its rally to 128.85, facing 38.2% Fibonacci correction level.

We should mention that the price attempt to reach below the moving average 55, and providing negative close below it, so that will turn the bearish bias domination, which repeats the attempts of reaching the negative levels at 127.20 and 126.15.

Expected trading range for today is between 127.60 and 128.85

Expected trend for today: Bullish temporarily