The EUR/JPY pair confirmed the continuation of the bullish bias domination by forming new bullish wave, to move away from the extension of the support at 119.50. Note that surpassing the moving average 55 is important for getting rid of the negative pressures, which opens the way towards recording the targets that located at 121.60 reaching to 122.50 level in the medium term. By the above image, we notice forming new bullish wave by stochastic to confirm getting rid of the negative pressure, which provides good chance for gathering the positive momentum, and that allows it to achieve the waited targets. The expected trading range for today is between 119.50 and 121.60.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Overview
The EUR/JPY pair confirmed the continuation of the bullish bias domination by forming new bullish wave, to move away from the extension of the support at 119.50. Note that surpassing the moving average 55 is important for getting rid of the negative pressures, which opens the way towards recording the targets that located at 121.60 reaching to 122.50 level in the medium term. By the above image, we notice forming new bullish wave by stochastic to confirm getting rid of the negative pressure, which provides good chance for gathering the positive momentum, and that allows it to achieve the waited targets. The expected trading range for today is between 119.50 and 121.60.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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