EUR JPY remains negative 3/4/2013

The pair traded in tight range yesterday to be limited between 119.15 and 120.20, and keeps the trading generally negative as long as 121.30 resistance level remains intact for the current trading.

We keep the bearish overview to reach 118.30 followed by 117.25 levels as main targets for the bearish bias, conditioned by stability below 121.20, while we note that stochastic is steady around 20 level, which supports the bearish bias in the near and medium term.

Expected trading range is between 121.20 and 118.20

Expected trend for today: Bearish