The EURJPY takes advantages from the positivity of the indicators – Analysis – 19-8-2022

The EURJPY pair began to receive the positive momentum that comes from the unionism of the main indicators, accompanied with the main stability within the bullish channel, to notice surpassing the barrier at 137.55, renewing the bullish attack requires a new positive close above the breached barrier, which makes us prefer forming a bullish rally that might target 138.50 level initially, reaching to 139.65.

While the price failure to provide the required positive close and reaching below 137.55 level will form a main factor to renew the bearish correctional attempts, which makes us expect suffering clear losses by reaching 136.20 then 134.40 in the upcoming period trading.

The expected trading range for today is between 136.75 and 138.50

The expected trend for today: Bullish