The EURJPY approaches the support – Analysis – 1-12-2022

The EURJPY pair surrendered to the negative pressures to resume the bearish correction, approaching the bullish channel’s support line at 142.15 due to the consolidation of the moving average 55 near the major support, as this might force the price to form temporary sideways fluctuation, noting that stochastic reach to the oversold areas will form strong negative factor that increases the chances of breaking the current support and move to the bearish track, to target many stations near 141.40 and 140.30.

The expected trading range for today is between 143.60 and 141.80

The expected trend for today: Bearish