Overview
The EUR/JPY pair repeated its fluctuation round the bullish range's support line, located now around 119.50, affected by the negativity of the major indicators that block the expected bullish attempts. Thus, we will keep waiting to gather new positive momentum to support rallying above 120.65 level followed by starting to record gains by reaching 121.60 followed by 122.80 levels. We should note that the price's attempt to decline below the current support will postpone the bullish attempts and move to build new correctional bearish bias that targets 118.50 level. If it breaks this level, it will extend losses towards 116.80. The expected trading range for today is between 119.50 and 121.60.
The material has been provided by InstaForex Company - www.instaforex.com
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