Forex Trading News & Analysis

Daily analysis of EUR/JPY for March 31, 2017

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Overview

The EUR/JPY price remains stable negatively below the resistance at 119.70 level, which makes us keep preferring the negative attempts in the near period, reminding you that the first target located at 118.55, and surpassing it will extend the losses to 116.80 to test the extension of the main bullish channel’s support. The price gets its negative momentum from the main indicators union, to notice the stability of the moving average 55 above the mentioned resistance to confirm its confinement within the negative range, while stochastic forms new bearish wave to provide the negative momentum in the near trading. The expected trading range for today is between 119.70 and 118.55.

The material has been provided by InstaForex Company – www.instaforex.com