The EURJPY rebounds above the support – Analysis – 29-10-2021

The EURJPY price started to recover from the losses by rallying above the initial support at 132.00, to notice recording some positive targets by touching 132.65 level, while the continuous stability of the current support line supports the attempt to renew the bullish attack, to expect providing new pressure on 133.60 barrier in order to find a way to resume the bullish attack in the upcoming period.

On the other hand, the price return to fluctuate below the mentioned support will force it to renew the correctional bearish attempts, to expect suffering additional losses by moving towards 130.85.

The expected trading range for today is between 132.00 and 133.20

The expected trend for today: Bullish