EURJPY tests the moving average 55 – Analysis – 31-8-2018

The EURJPY pair faced sudden negative pressure yesterday that led to provide intraday negative rebound, to test the moving average 55 at 129.35, also, we note that 38.2% Fibonacci correction level continues to form additional support at 128.80 to confirm the preparation to resume the bullish attack that targets 131.25 followed by 132.20 in the upcoming period.

We should note that crawling below 128.80 level and providing negative close will postpone the bullish attempts to expect suffering losses by moving towards 128.10 followed by reaching the key support at 126.70 today.

Expected trading range for today is between 129.20 and 131.25

Expected trend for today: Bullish