The EUR/JPY pair settled up above 122.40 level to confirm its overall bullish bias that represents the neckline of the double bottom pattern. Therefore, we keep waiting for a new bullish attack. Let me remind you that the initial upward target is seen at 123.75. We have to wait for the extension of the trading range to the resistance at 124.75. Stochastic attempts to settle within the overbought level to reinforce the positive pressure, which provides the required momentum to achieve the suggested targets. The expected trading range for today is between 122.40 and 123.75

The material has been provided by InstaForex Company –

The post Daily analysis of EUR/JPY for January 30, 2016 appeared first on