The EURJPY fluctuates within the bullish range – Analysis – 04-12-2019

The EURJPY pair affected by strong negative pressures yesterday, due to stochastic reach below 50 level, which forces it to form a temporary negative rebound by reaching 120.20, by the above image, we notice the stability of the price within the bullish channel levels, to confirm the importance of the main support at 119.60, which reinforces the continuation of the suggested positivity.

The fluctuation of the moving average 55 below the current trading will increase the chances for renewing the bullish attempts, and gathering a new positive momentum makes us expect rally to 121.40, then attempts to reach the second target at 122.40.

The expected trading range for today is between 119.90 and 121.40

The expected trend for today: Bullish