The EURJPY repeats the pressure on the support – Analysis – 13-8-2019

The EURJPY pair decline yesterday to repeat the pressure on the bearish channel’s support line at 117.50, providing positive close above it as appears on the chart, while resuming the negative attack requires breaking the current support to open the way to record the additional targets represented by 116.70 followed by 114.85 levels.

On the other hand, failing to achieve the break will increase the chances of forming correctional bullish trades to force the price to rally bullishly towards 119.25 before achieving any new negative target, therefore, we recommend staying neutral and wait the next close to manage to detect the next main targets.

The expected trading range for today is between 117.50 and 119.00

The expected trend for today: Neutral