The EURJPY approaches the support – Analysis – 3-9-2020

The EURJPY pair remains affected by the big negative pressures that come from stochastic fluctuation near 20 level, to notice its approach from the main bullish channel’s support at 125.20.

the bullish scenario depends on the strength of the current support, to expect begin gathering positive momentum, then attempt to reach 126.75 and 127.40, while the price decline below the support and holding below it will confirm its move to the bearish track, which increases the chances for suffering big losses that might begin at 124.40 reaching to 50% Fibonacci at 123.40.

The expected trading range for today is between 125.20 and 126.75

The expected trend for today: Bullish