EURJPY awaits additional momentum – Analysis – 27-6-2017

The EURJPY pair reached the first positive target at 125.20, but lacking the bullish momentum forced it to form intraday negative rebound as appears on chart, while stochastic exit from the overbought areas forms the main factor to provide the intraday negative fluctuation, to keep waiting to gather the bullish momentum again and resume the bullish attack to reach 126.10 followed by the main resistance at 127.30.

The stability of the moving average 55 around 124.00 confirms forming initial support and attempts to confirm the continuation of the positivity to prevent any attempt to change the main trend for the near term and medium term period.

Expected trading range for today is between 124.55 and 126.10

Expected trend for today: Bullish