The EURJPY fluctuates within the bearish track – Analysis – 5-12-2022

The EURJPY pair touched 140.75 level on last Friday, to rebound positively towards 42.20 and settles near the moving average 55, these factors won’t affect the bearish track by settling below 142.60 resistance line, to confirm confining trades within the negative track and wait to renew the negative attack to target the first main target at 140.25.

On the other hand, breaching the mentioned resistance will confirm regaining the bullish bias by consolidating within the bullish channel again, allowing us to start suggesting the bullish trades and target 143.15 initially.

The expected trading range for today is between 142.60 and 141.10

The expected trend for today: Bearish