FX.co ★ Daily analysis of EUR/JPY for November 11, 2016

Overview

The EUR/JPY price managed to provide a positive close above 115.40 level to get rid of the dominant negativity. The pair begins clear gains by reaching 116.50. Please be aware that the stability of the moving average 55 near 115.40 level confirms the price confinement within the bullish level, providing positive momentum to extend trading to 117.70 and even higher to 119.20. Stochastics attempt to settle within the overbought level reinforces our bullish suggestion to provide positive momentum to the price. This agrees with our bullish expectation to wait until the targets are hit. The expected trading range for today is between 115.65 and 117.70