EURJPY gains strong positive momentum – Analysis – 13-6-2017

The EURJPY pair managed to gain strong positive momentum yesterday as stochastic rallied above 50 level, which allows us to expect the end of the bearish correction and attempt to resume the bullish attack in the near term and medium term period, while the price needs to breach 124.40 level to confirm releasing bullishly and open the way to record more positive targets that start at 126.10 followed by reaching the bullish channel's resistance around 127.40.

Also, the moving average 55 rally above 121.65 support increases the positive pressure and attempts to block the price within the bullish range until achieving the required breach followed by reaching the previously suggested targets.

Expected trading range for today is between 122.60 and 124.40

Expected trend for today: Bullish