The EURJPY moves towards the support – Analysis – 20-12-2021

The EURJPY pair resumed forming the correctional bearish rebound, surrendering to the moving average 55 negativity that consolidated near 129.80 level, forcing the price to suffer clear losses by reaching 127.35 support line.

We remind you that it is important to monitor the price behavior when touching this support to manage to detect the next main trend, as settling above the support line will support the bullish track and wait to rally towards 128.60 initially, while breaking the support and holding below it will confirm moving to the bearish track, to expect moving towards 126.80 followed by attempting to reach 125.10 as a first main target for the bearish track.

The expected trading range for today is between 127.35 and 128.60

The expected trend for today: Bullish