The EURJPY resumes the rise – Analysis – 8-8-2022

The EURJPY pair succeeded to get rid of the domination of the sideways bias to notice surpassing 136.65 obstacle and resume the bullish rally by moving towards the first positive targe tat 137.60.

Stochastic attempt to provide the positive momentum by settling above 20 level will increase the chances of forming strong bullish rally, which allows us to wait to reach 138.55 followed by repeating the pressure on 23.6% Fibonacci correction level at 139.65.

The expected trading range for today is between 136.80 and 138.55

The expected trend for today: Bullish