EURJPY might be forced to fluctuate – Analysis – 3-8-2017

The EURJPY pair kept its positive stability around 131.10 level, but stochastic attempt to exit the overbought areas might force it to postpone the bullish rally and start forming intraday sideways trading, while we should note that it is important to hold above 128.80 support to confirm the continuation of the positivity for the upcoming period by gaining new bullish momentum and ease the attempt to breach 132.25 to open the way to achieve the main target at 134.45.

The consolidation of the moving average 55 below the mentioned support line confirms blocking the price within the bullish range and increases the chances of gathering the bullish momentum to ease the attempt to achieve the waited targets.

Expected trading range for today is between 130.50 and 132.25

Expected trend for today: Bullish