The EURJPY seeks new momentum – Analysis – 13-6-2019

The EURJPY pair was forced to decline temporarily to settle near the initial support 122.00, due to the lack of the positive momentum until this moment, noting that stochastic attempt to exit the oversold areas increases the chances of gathering the positive momentum to manage to start forming correctional bullish trades and assist to achieve our targets at 123.10 and 123.80 levels.

On the other hand, failing to gather the positive momentum and attempting to crawl below the current support will confirm regaining the bearish bias and start targeting negative levels by moving towards 123.45 followed by 120.80 levels.

The expected trading range for today is between 122.00 and 123.10

The expected trend for today: Bullish