EURJPY settles positivity – Analysis – 31-5-2016

The EURJPY trading extended yesterday to the upside strongly, to surpass the resistance at 123.50, to settle within the bullish level, the price current rebound caused by stochastic surpass to the overbought level, opening the way towards gathering new positive momentum, then resuming the bullish attack and achieving the waited target at 124.50 then reaching 126.45.

The bullish suggestion supported by the stability of the moving average 55 below 123.50 level, to reinforce its stability against the price fluctuation, which increases the positive pressure on the upcoming trading until achieving the suggested targets.

Expected trading range for today is between 123.50 and 124.50.

Expected trend for today: Bullish.