Overview
The EUR/JPY pair has displayed anything new until this moment. The pair still aims to return to sideways trading by its fluctuation below the resistance at 124.00 for today. We notice that there is a clear contradiction between the main indicators that increases the chances for the overall sideways trading in the short term. The price is confined between 123.30 and 121.60 levels. To confirm the suggested negativity, the price needs to provide a negative close below 121.60, to begin forming a bearish correctional bias. 120.00 level is forming the initial target in the short term. The expected trading range for today is between 123.50 and 121.60
The material has been provided by InstaForex Company – www.instaforex.com
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