EURJPY needs new momentum – Analysis – 14-3-2017

Economies.com
2017-03-14 08:19AM UTC

The EURJPY price provided an intraday negative rebound affected by stochastic attempt to surpass the overbought level, to test the initial support at 122.10, in general, the bullish suggestion will remain valid if the trading settled above 23.6% Fibonacci correction level at 121.20, which makes us wait until gathering new bullish momentum, then reach the suggested targets at 124.10 reaching to 126.15.

 

Therefore, the price failure to gather bullish momentum in the current trading might forces it to provide an intraday negative correction until testing the support at 121.20, which forms strong barrier against it to build a new bullish bias that begin from this level.

 

Expected trading range for today is between 122.10 and 124.10

 

Expected trend for today: Bullish

 

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