The EURJPY exits the bearish track – Analysis – 10-11-2020

The EURJPY pair succeeded to breach the main bearish channel’s resistance at 123.95 level for today, recording some of the positive targets by reaching 125.13, the repeated stability above the breached resistance confirms the price readiness to resume the bullish attack, to expect its rally to 125.40 and surpassing this barrier might extend the trading to 38.2% Fibonacci correction level at 126.70.

by the above image, we notice stochastic move to the upside, to approach from 80 level, which provides a new positive momentum that allows it to record the suggested positive targets.

The expected trading range for today is between 124.00 and 125.40

The expected trend for today: Bullish