FX.co ★ Daily analysis of EUR/JPY for July 22, 2016

Overview

The EURJPY pair repeated fluctuations between the initial support 116.80 and 118.50 resistance yesterday as fading bullish momentum causes the current swings. Stochastic settles around 50 levels as shown on the chart. We remind you that the bullish attempts depend on the price stability above the current support; it will increase the chances of forming the bullish attack and attempt to surpass the current barrier followed by reaching the awaited targets at 119.20 and then 121.00.

The expected trading range for today is between 116.80 and 119.40.