EURJPY forms new positive rally – Analysis – 16-6-2017

The EURJPY pair managed to get rid of the intraday negative pressures yesterday to repeat the fluctuation above 122.60 support line and begin recording some targets by reaching 124.20 as appears on chart, while the current positivity is caused by the positive momentum provided by the major indicators, expecting to breach 124.40 barrier and open the way to achieve more targets by moving towards 126.10 followed by 127.45 in the upcoming period.

Stochastic attempt to reach the overbought areas will provide the price with additional positive momentum and support forming strong bullish attack to manage to achieve the suggested targets.

Expected trading range for today is between 123.30 and 126.10

Expected trend for today: Bullish