Overview
The EURJPY pair has been moving towards the bearish channel's resistance to settle around 115.80 levels since morning. We remind you that the bearish scenario depends on the stability of this resistance. The price is likely to form a new negative attack and attempt to break the 114.50 initial support followed by movements towards negative targets that start at 113.60 then 112.20. Note that a successful breach of the main resistance will cancel the negative domination and start building new bullish bias, targeting 117.00 as the first positive station, followed by attempts to reach 119.20 in the upcoming period. The expected trading range for today is between 115.80 and 113.60.
The material has been provided by InstaForex Company - www.instaforex.com