The EURJPY moves within tight track – Analysis – 8-12-2020

The EURJPY pair provided tight sideways fluctuation recently, affected by the contradiction between stochastic and the stability of 126.65 resistance against the bullish attempts, while leaning above 125.75 level now might assist to renew the bullish attempts to target 127.00 that forms the extension of the bullish channel’s resistance that appears on the chart.

On the other hand, declining below 125.75 will confirm surrendering to the domination of the correctional bearish bias, to expect suffering new losses that might extend to 125.25 and 124.38 levels.

The expected trading range for today is between 125.75 and 127.00

The expected trend for today: Bullish