The EURJPY moves between the major levels – Analysis – 16-12-2020

The EURJPY pair surrendered to the stability of the sideways track resistance line at 126.70, to notice forming bearish bias to press on the initial support 125.75, thus, we will stay neutral until the price succeeds to surpass one of these levels to manage to detect the main targets for the near term trades.

We remind you that succeeding to breach 126.70 barrier and holding above it will allow the price to resume the bullish attack to target 127.00 level initially, while crawling below the current support will activate the correctional bearish track, to expect suffering some intraday losses by moving towards 125.25 followed by reaching the bullish channel’s support line at 124.82.

The expected trading range for today is between 125.80 and 126.70

The expected trend for today: Neutral