The EURJPY resumes the decline – Analysis – 21-10-2019

The EURJPY pair didn’t get enough by testing the bearish channel’s resistance at 121.00, to notice forming a new bullish wave attempting to exit the negative attack, to confirm the attempt of changing the main trend requires stepping above 50% Fibonacci correction level at 121.35, to open the way towards targeting several positive levels that begin at 121.80 and 122.60.

The continuation of the moving average 55 fluctuation below the current trading, and stochastic stability within the overbought level form supported factors for the bullish fluctuation, to increase the chances for achieving the condition of reaching the bullish track.

The expected trading range for today is between 121.00 and 121.80

The expected trend for today: Bullish