The EURJPY forms minor bullish channel – Analysis – 31-5-2023

The EURJPY pair formed minor bullish channel recently to reinforce the chances of resuming the previously suggested correctional bullish attempts, while the lack of the positive momentum led to form negative wave and approach 148.85 support line that forms the key to confirm the expected trend for the near term and medium term trades.

Succeeding to hold above the mentioned bullish channel’s support line will allow the price to face the negative pressures to provide chances to gather the additional positive momentum followed by extending trades towards 150.60 and 151.60 levels.

The expected trading range for today is between 149.10 and 150.50

The expected trend for today: Bullish