EURJPY tests the moving average 55 – Analysis – 21-6-2017
Economies.com
2017-06-21 07:22AM UTC
The EURJPY pair formed some correctional bearish trading yesterday to test the moving average 55 that forms initial support at 123.80, while we expect the price head to form new bullish attack as long as this support line remains intact, to manage to breach 124.40 level again and extend trading towards the first main target at 126.10.
Stochastic reach to the oversold areas confirms ending the negative pressures on the price, waiting to form new positive rally to allow the price to gain the required momentum to reach our targets.
Expected trading range for today is between 123.80 and 126.10
Expected trend for today: Bullish
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