FX.co ★ Daily analysis of EUR/JPY for August 10, 2016

Overview

The EURJPY pair formed an intraday negative wave yesterday and declined towards 112.90 as shown on the chart. Holding positions above the 112.20 support will provide the pair with new positive momentum followed by rallying towards our expected target at 115.10. We should note that any attempt to decline below the mentioned support will cancel correctional bullish attempts and begin a new negative attack that targets 110.80 levels followed by the low 109.50 areas. The expected trading range for today is between 112.20 and 115.10.