EURJPY threats the negative stability – Analysis – 21-4-2017

The EURJPY pair touched 117.80 level yesterday and surpassed the broken support line that appears on chart, while renewing the bullish attempts and providing positive close above this support will threat the negative stability and regain its bullish bias by consolidating within the bullish channel again.

To confirm the bullish attempts, the price needs to hold above 116.80 level to provide it with positive strength that will push the price towards 118.55 followed by attempting to reach 23.6% Fibonacci correction level at 120.70, which will push us to suggest the bullish bias in case achieving the mentioned conditions.

Expected trading range for today is between 116.80 and 118.55

Expected trend for today: Bullish