EURJPY tests the initial support – Analysis – 28-4-2017

The EURJPY price formed an intraday negative rebound to test the initial support at 120.80 to forms good leaning point to confirm the continuation of the positivity in the upcoming period, we notice the price rally to the upside, which makes us keep our bullish expectation, reminding you that our positive targets located at 122.90 and 124.15.

Any attempt to provide negative close below the current support will delay the bullish overview, to begin building bearish correction bias to target 119.50 level reaching to 38.2% Fibonacci correction level at 118.60.

Expected trading range for today is between 120.80 and 122.90

Expected trend for today: Bullish.