30.06.201617:37 Forex Analysis & Reviews: Daily analysis of EUR/JPY for June 30, 2016

Long-term review

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Overview

The EURJPY traded positively yesterday facing the 114.65 resistance line and forming a solid barrier that makes the price settle within the negative level until this moment. Besides, the stability of the 61.8% Fibonacci level around 115.05 reinforces the negative pressure, and we expect formation of a new negative attack, the price's attempt to reach the first target at 109.50. Note that attempting to rally above 115.05 levels and closing positively will cancel the negative overview and begin a new bullish bias formation that will try to reach 117.40 levels as the first positive station.

The expected trading range for today is between 115.05 and 109.50.

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