FX.co ★ Daily analysis of EUR/JPY for April 20, 2017

Overview

The EUR/JPY pair continued to trade with an intraday bullish correction to approach from the main resistance at 117.30. The short-term scenario depends on the strength of this resistance to expect new bearish attempt by its stability. The downward targets are seen at 116.00 level reaching the support at 114.85. Stochastic reached the overbought level. It means that it got rid of positive pressure to confirm the end of the bullish correctional wave. The pair gained new negative momentum to confirm the continuation of the bearish bias. The pair is expected to hit the suggested targets soon. The expected trading range for today is between 117.30 and 114.80