The EURJPY provides positive signal – Analysis – 24-3-2020

The EURJPY pair provided clear positive signal by rallying bullishly yesterday, to press on the minor bearish channel’s resistance at 120.00, noting that stochastic continues to provide the positive momentum to allow us to wait to breach the current resistance, while holding above it will confirm moving into the bullish track to target 120.95 followed by 121.65.

Therefore, we recommend waiting the breach to avoid any losses that might appear due to regaining the bearish bias, noting that attempting to decline below 118.60 will confirm the preparation to suffer big losses that might start at 116.30.

The expected trading range for today is between 118.90 and 120.95

The expected trend for today: Bullish