The EURJPY needs new negative momentum – Analysis – 26-1-2022

The EURJPY pair lost the negative momentum recently, to force it to postpone the correctional bearish track and settle within sideways track near 128.75, noting that the continuous fluctuation of the moving average 55 near 129.80 forms major factor to confirm the previously expected bearish track, which might target 128.10 followed by reaching the historical support at 127.05.

Stochastic attempt to exit the oversold areas will increase the chances of the affection by the temporary sideways bias domination until getting the required additional negative momentum to achieve the suggested negative targets.

The expected trading range for today is between 129.40 and 128.10

The expected trend for today: Bearish