EURJPY fluctuates below the moving average 55 – Analysis – 13-2-2017

There is no news for the EURJPY price by holding below the moving average 55, which increases the strength of the resistance at 121.65, which confirms the price affection by the negative attempts in the upcoming period, therefore, we will return to prefer the negative attempts, which confirms that surpassing 120.60 level is important for opening the way towards recording several negative targets that begin at 120.00 reaching to 118.60.

Note that breaching the resistance at 121.65 will confirm regaining the bullish bias, to renew forming bullish trading to target 123.10 level reaching to the top at 124.05.

Expected trading range for today is between 120.60 and 121.60

Expected trend for today: fluctuated negatively