The EURJPY provides new positive signal – Analysis – 5-1-2022

The EURJPY pair provided new positive signal by fluctuating above 130.95 level and recording new positive target by reaching 131.45, while stochastic exit from the overbought areas allows us to expect forming temporary sideways fluctuation before attempting to achieve the additional targets represented by 131.85 and 132.45 levels.

On the other hand, continuing to face the temporary negative pressures will increase the chances of forming correctional bearish rebound, to expect testing 129.85 support line before recording any new positive target.

The expected trading range for today is between 130.55 and 131.85

The expected trend for today: Bullish