FX.co ★ Analysis of EUR/JPY for May 17, 2017

Recently, the EUR/JPY has been trading downwards. The price tested the level of 124.54. Anyway, according to the 4H time frame, I found that yesterday's low held successfully and that EUR/JPY is in short-term uptrend. I applied Bolinger Bands, and the price rejecting from the middle line, which is another sign of strength. Watch for buying opportunities. The upward target is set at the price of 125.75

Resistance levels:

R1: 125.75

R2: 126.00

R3: 126.50

Support levels:

S1: 124.75

S2: 124.45

S3: 123.90

Trading recommendations for today: watch for potential buying opportunities.