The EURJPY approaches from the resistance – Analysis – 6-11-2021

The EURJPY price faced clear positive pressures yesterday by stochastic exit from the oversold level, which forces it to delay the negative attack, to approach from the bearish channel’s resistance at 129.60.

The upcoming scenario depends on the strength of the mentioned resistance, and its stability makes us expect renewing the negative attempts to target 129.00 and 128.40 level, while breaching the resistance and holding above it will confirm its move to the bullish track, to expect forming a strong bullish rally to face 129.85 level initially.

The expected trading range for today is between 129.60 and 128.80

The expected trend for today: Bearish if the resistance remained intact.