The EURJPY provides new positive momentum – Analysis – 16-1-2020

The EURJPY pair provided new positive close yesterday above 122.45 barrier, to increase the chances of resuming the previously expected bullish attack, as gathering new positive momentum will confirm moving to 123.25 level, to form the first positive target followed by attempting to reach 124.25 in the upcoming period.

We remind you that attempting to provide negative close below the additional support at 122.30 will postpone the bullish attack to start forming correctional bearish trades that might push the price to test the bullish channel’s support line at 121.15.

The expected trading range for today is between 122.30 and 123.25

The expected trend for today: Bullish