The EURJPY needs to break the additional support – Analysis – 31-1-2023

The EURJPY pair returned to provide sideways fluctuation, affected by the stability of the additional support at 140.25, which hinders the attempts to resume the previously waited bearish attack, noticing blocking trades below the moving average 55 to decrease the chances of pressing on 142.80 barrier and provide the chance to gather the required additional negative momentum to achieve the break.

We remind you that succeeding to crawl below 140.25 and getting negative close will confirm its preparation to target many negative stations, waiting to reach 139.40 followed by 138.20 levels.

The expected trading range for today is between 141.80 and 140.25

The expected trend for today: Bearish