EURJPY provides an intraday positive rebound – Analysis – 18-4-2017

The EURJPY price failed to breach 114.85 level, which forms a good obstacle against the negative attempts, which forces it to provide an intraday positive rebound by reaching 116.00, in general, we will keep the bearish suggestion valid if the main resistance settled at 117.10, to wait for achieving the required break, opening the way towards recording new negative targets that begin at 113.80 reaching to 112.30 in the upcoming period.

Stochastic rally from the oversold level to 50 level forms the main factor by the price current rebound, but that will increase the chances for gathering negative momentum in the near trading then resuming the bearish attack as we expected previously.

Expected trading range for today is between 116.80 and 114.80

Expected trend for today: fluctuated within the bearish range.