EURJPY tests the moving average – Analysis – 22-3-2017
Economies.com
2017-03-22 08:09AM UTC
The EURJPY pair repeated its attempts to test the moving average 55 around 120.30, which forms good barrier against the negative attempts, while the intraday negativity is caused by stochastic decline towards the oversold areas, to attempt to find good chance to gather the positive momentum again.
We remind you that the bullish overview will remain valid as long as 38.2% Fibonacci correction level remains intact around 119.50, forcing the price to form new bullish attack that targets 122.80 followed by 124.05 levels on the near term and medium term basis.
Expected trading range for today is between 120.30 and 121.60
Expected trend for today: Bullish
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