The EURJPY attempts to touch the target – Analysis – 17-12-2021
Economies.com
2021-12-17 09:33AM UTC
The EURJPY pair formed new bullish rally yesterday to touch the target at 129.60, noticing that the moving average 55 consolidates near the target, to form new obstacle against the bullish attempts and force the price to rebound negatively towards 128.70.
These factors might hinder the bullish attempts, while stochastic continuous positive momentum signals and settling above the support at 127.40 allow us to suggest more rise in the upcoming period, to expect surpassing the current barrier and reach towards 130.80 as a second positive target for the bullish bias.
The expected trading range for today is between 127.90 and 129.60
The expected trend for today: Bullish
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