The EURJPY presses on the barrier – Analysis – 13-7-2021

The EURJPY pair continued to fluctuate near 131.10 barrier, affected by the positive pressures coming by stochastic, in addition to the consolidation of the moving average 55 below the current trades.

The contradiction of the major indicators against the stability of the current barrier allows us to stay neutral today, waiting the daily close to manage to confirm the expected targets for the upcoming period, as the stability of the barrier will support he negative overview that might target 129.60 initially, while breaching the barrier will increase the chances of forming correctional bullish trades to move towards 131.70 followed by 133.30 levels before achieving any new negative target.

The expected trading range for today is between 131.30 and 130.75

The expected trend for today: Neutral