EUR JPY is not stable 22/3/2013

The pair wasn’t stable recently, limited between 124.25 and 121.90 levels, to find support line around 121.90 and limit the intraday negativity as shown in the above chart.

We expect regaining the positivity by holding above the previous support to visit 124.50 followed by 125.80, while its conditioned by closing above the moving average to hit the mentioned targets.

Stochastic remains settled negatively by touching 20 level, therefore, we should wait four hours closing above the moving average to hit the previous targets.

Expected trading range is between 121.80 and 125.70

Expected trend for today: Bullish