EUR JPY attempts positively 25/3/2013

The pair rose recently to return around the moving average to find resistance level at 123.70 as appears in the above chart, where achieving breach by the four hours candlestick above 123.70 to be able to confirm the bullish bias to reach 125.35

If the breach failed we expect the return of the sideways bias to limit the trading between the previous resistance level and the support level 121.80, we notice positive signals provided by Stochastic which supports the expected positive overview in case confirming the required breach.

Expected trading range is between 122.80 and 125.00

Expected trend: bullish if the resistance level breached to the upside.