The EURJPY shows temporary decline – Analysis – 8-7-2020
Economies.com
2020-07-08 05:27AM UTC
The EURJPY pair lost its positive momentum after stochastic declined towards 20 level, to form temporary correctional bearish rebound by settling near 121.20, while the recent decline will not affect the main bullish track, depending on the stability of the bullish channel’s support line at 120.90.
Therefore, we will keep our bullish overview and wait to succeed to gather the positive momentum again to manage to form new bullish trades to target 121.80 followed by 122.60 levels in the medium term period.
The expected trading range for today is between 121.00 and 122.50
The expected trend for today: Bullish
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