EUR JPY settles in tight range 11/4/2013

The pair traded in tight range to be limited between 129.75 and 130.55, and keep the positive stability above 129.50 level, thus, we expect more positive actions today reaching 131.20 followed by 132.80

Despite the attempts of stochastic to leave the overbought area, we notice the stability of 129.50 level as an initial support level, which supports our positive overview for the near and medium term trading.

The correction bias requires four hours close below 129.50 to reach 126.00 as a main target for the correctional possibility, otherwise, we keep our positive overview valid.

Expected trading range s between 131.20 and 129.50

Expected trend for today: Bullish