The EURJPY needs the positive momentum – Analysis – 19-8-2019

The EURJPY pair confirmed providing several positive closes above the bullish channel’s support at 117.20, showing its readiness to form a strong correctional rebounds in the near and medium period, the price needs a positive momentum, to reinforce the attempts to reach 119.00 level, to attempt to press on 121.05 barrier, which forms the second station of the bullish correctional bias.

Note that the price attempt to reach below the current support, so that will confirm its move to a new negative track, to expect resuming the negative attack, to suffer more of the losses by reaching 116.60 and 114.85.

The expected trading range for today is between 117.20 and 119.00

The expected trend for today: Bullish