FX.co ★ Daily analysis of EUR/JPY for March 28, 2016

Overview

According to the shown H4 chart, the EUR/JPY price touched the awaited target at 126.90 breaking through the initial resistance and providing a new positive signal to support the bullish bias in the upcoming period. The pair is likely to target the 127.30 level in the near period, which represents the neckline of the double-bottom pattern. The pair would renew its attempts to achieve the main target at 128.50, which provides the required momentum for the price's rally to the expected targets.

The expected trading range for today is between 126.50 and 128.50.