The EURJPY needs new positive momentum – Analysis – 12-1-2021

The EURJPY pair continued to form mixed sideways trades despite its continuous stability within the bullish channel, affected by stochastic intraday negativity, noting that it is important to monitor the price behavior in case approaching the minor bullish channel’s support line at 125.90 that forms the main factor to confirm the suggested bullish scenario.

In case gathering the positive momentum, the price will manage to resume the bullish attack, to expect moving towards 127.50 followed by extending trades towards 128.75 resistance line, to form the main target for the current trades.

The expected trading range for today is between 126.00 and 127.50

The expected trend for today: Bullish