EURJPY still under the intraday positive effect – Analysis – 19-4-2017

The EURJPY pair continued to provide positive trading recently affected by stochastic positivity, to settle around 116.40 level, while we expect the end of the positive wave in the near term basis as long as 117.10 resistance remains intact, to start building new bearish attack and renew the pressure on 114.85 barrier.

Note that attempting to breach the mentioned resistance will push the price back to the bullish range and consolidate within the bullish channel again, to start targeting more positive targets that reach to 118.60 followed by 119.70, thus, we recommend monitoring the price well in case reaching the resistance barrier to avoid any attempt to change the main trend.

Expected trading range for today is between 117.10 and 114.80

Expected trend for today: Bearish