FX.co ★ Daily analysis of EUR/JPY for March 29, 2017

Overview

The EUR/JPY pair remains stable within the bullish range, fluctuating above the support located at 119.60. Therefore, we prefer the dominant positivity that targets 121.60 level, then wait for a rally towards the next target in the medium period. Stochastic is above 50 level which reinforces the bullish scenario and provides extra positive momentum to the pair. It can breach the current barrier and begin achieving the suggested targets. On the other hand, a decline below the current support and negative close will cancel the bullish overview. In that case the price may hit 118.55 reaching to the critical support at 116.80. The expected trading range for today is between 119.60 and 121.60