EURJPY hits the main support – Analysis – 11-4-2017

The EURJPY price managed to complete the bearish correctional attempts to notice reaching the main bullish channel’s support at 117.00 level for today, the upcoming scenario depends on the strength of this support, to begin to expect building new bullish bias that extend the trading to 118.55 reaching to 120.20 in the near period.

While suffering extra negative pressures and providing negative trading below the current support will get it out of the bullish range to begin preferring building main bearish bias, and 115.10 level forms the initial negative target for the bearish range.

Expected trading range for today is between 117.00 and 118.55.

Expected trend for today: Bullish.