Daily analysis of EUR/JPY for November 24, 2016

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Overview

The EURJPY price completed its bullish rally approaching from the awaited target at 119.20, which forms an initial barrier against the bullish attempts. Therefore, we recommend monitoring the price behavior when reaching this level. If the price surpasses this level, it will open the way for more positive targets that begin at 121.45. Stochastic stability within the overbought level reinforces positive pressure, providing bullish momentum, which gives a strong chance of resuming the bullish attack in the near and medium period. The expected trading range for today is between 118.20 and 121.45.

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

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