EURJPY fluctuates within the bullish channel – Analysis – 1-10-2018

The EURJPY pair confirmed keeping the bullish bias domination by providing clear positive stability within the bullish channel by rallying towards 132.20 recently, while the stability of the main support at 130.70 allows us to suggest more bullish attempts to increase the chances of surpassing the current barrier, represented by 23.6% Fibonacci correction level followed by extending trades towards 133.10 to push on the previously recorded top.

Also, we should note that stochastic reach to the overbought areas will increase the chances of gaining new positive momentum, paving the way to achieve the required breach followed by reaching the next waited targets.

Expected trading range for today is between 131.65 and 133.10

Expected trend for today: Bullish