The EURJPY gathers its strength – Analysis – 16-7-2020

The EURJPY pair formed intraday barrier against the price’s bullish attempts, to notice forming temporary negative rebound and attempt to gather its strengths by seeking the additional positive momentum, as stochastic approach to 20 level confirms getting rid of the negative pressures to start gathering the additional positive momentum and expect targeting 122.90 followed by 123.75 levels.

Note that attempting to break the initial support at 121.55 will confirm postponing the bullish attack to suffer some losses by attempting to test the bullish channel’s support line at 121.00.

The expected trading range for today is between 121.55 and 122.90

The expected trend for today: Bullish