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27.05.201617:14 Forex Analysis & Reviews: Daily analysis of EUR/JPY for MaY 27, 2016

Long-term review

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Overview

The EUR/JPY price again failed to surpass the initial resistance at 123.15. It was forced to form bearish waves to settle at 122.60 as you can see at the image above. In spite of the previous negative pressure, stability of the support at 122.20 is backing the bullish movement in the upcoming period. There is a possibility of the price rally towards the first target at 123.70. The continuation of the negative pressure and an attempt to settle below the mentioned support will cancel the bullish overview to start forming a negative attack to target the 121.00 level.

The expected trading range for today is between 122.20 and 123.70.

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