The EURJPY pair continued to form correctional bullish trades to approach the first target 123.50, while the positivity is caused by the fluctuation above the initial support 121.00, which increases the chances of rallying above the current barrier to target the bearish channel’s resistance at 124.20.
Stochastic current release from the overbought areas might force the price to form intraday sideways trades until gathering new positive momentum followed by repeating the attempts to reach the mentioned resistance.
The expected trading range for today is between 122.30 and 123.90
The expected trend for today: Bullish