EURJPY attempts to test the initial support – Analysis – 26-5-2017

The EURJY price affected by an intraday negative pressure to approach from the extension of the initial support to 124.40, to keep forming the border line between the bullish attempts and attempting to build bearish correctional bias, therefore, please review the price behavior when hitting this support, to avoid any losses that might cause by changing the trend in the near and medium period.

Reminding you that the initial positive target of the bullish bias at 126.15, while the price decline below the current support will open the way towards suffering some losses by reaching the moving average 55 at 123.65 then expect targeting 121.50 level.

Expected trading range for today is between 124.40 and 126.15

Expected trend for today: Bullish