The EURJPY needs new momentum – Analysis – 21-7-2022

Despite the EURJPY pair’s recent consolidation within the bullish track that depends on 140.10 level forming major support, the lack of the positive momentum assists to reinforce the domination of the sideways bias temporarily, to settle near 141.30 without recording any new positive target.

These factors allow us to wait to gather the positive momentum to ease the mission of reaching 142.20 level, to form the first main target of the bullish trades, also, breaching this obstacle will allow the price to achieve additional gains that might extend towards 142.90 and 143.85.

The expected trading range for today is between 140.50 and 142.20

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The expected trend for today: Bullish