EURJPY lacks the positive momentum – Analysis – 3-2-2017

The EURJPY pair repeated the sideways trading affected by the contradiction of the major indicators until this moment, while we remind you that the bullish overview will remain valid as long as 120.60 support remains intact, increasing the chances of rallying towards more targets that start at 122.90 followed by 124.05.

Any attempt to decline below the mentioned support will postpone the bullish overview affected by correctional bearish bias to target 119.80 followed by reaching 38.2% Fibonacci at 118.60.

Expected trading range for today is between 120.60 and 122.90

Expected trend for today: Bullish