EUR JPY keeps it's levels 27/11/2012

In spite of yesterday’s attempts to form a bearish wave, the pair was able to stay in high level closing yesterday around 106.60 to settle with its bullish bias, and attempted to achieve the waited targets.

We are waiting for breaching 107.15 again to achieve expected targets around 108.00 and 109.30 during the near and the medium term, but we must be aware that Stochastic -which is in the overbought levels- might assist in forming correction wave again.

The channel support level stability at 104.10 for today makes the bullish trend is the dominant until today’s trading close.

Expected trading range for today is between: 105.50 and 108.00

Expected trend for this week: Bullish