EURJPY failed to achieve the break – Analysis – 30-12-2016

The EURJPY price failed to achieve the required break to 121.60 level, to keep forming a strong obstacle against the bearish attempts, which forces it to rally to the resistance at 123.90, reminding you that the bearish scenario depends on the stability of the resistance to open the way towards repeating the attempts to break the initial support, then record more of the negative targets by reaching 120.00 in the upcoming period.

Note that the attempt of breaching the mentioned resistance will cancel the bearish overview, to open the way towards forming new bullish attack that extend the trading to 124.70 reaching to 126.15.

Expected trading range for today is between 123.90 and 121.60

Expected trend for today: Bearish