EURJPY needs to breach the initial barrier – Analysis – 14-5-2018

The EURJPY pair repeated providing sideways trading due to the continuation of forming a clear barrier at 131.00 level against the positive moves until this moment, but the price stability generally above the critical support at 129.30 confirms the attempt of renewing the bullish attack, we recommend waiting for surpassing the current barrier, to open the way towards resuming the bullish attack and begin recording extra targets that begin at 131.60 and 132.20.

Note that stochastic reach to the overbought level forms a main factor to confirm the continuation of the positivity by providing new positive momentum, which increases the possibility for achieving the required breach and reaching to the suggested targets.

Expected trading range for today is between 130.40 and 131.60

Expected trend for today: Bullish