Morning Report

eurjpy01

Trading returned to stabilize above the 61.8% correction of CD leg of the bullish harmonic Bat Pattern. Therefore, the pair is seemingly attempting to test 76.4% correction of the same leg, which is the first extended target followed by 88.6% at 113.35 and 114.40 respectively. With trading stable above 112.05 we expect the pair to move further to the upside over intraday basis today.

The trading range for today is among key support at 110.05 and key resistance now at 115.40.

The general trend over short term basis is to the downside targeting 97.90 as far as areas of 132.50 remain intact.

Previous Report

Weekly Report

Support112.05111.60111.05110.70110.05
Resistance112.80113.35113.85114.00114.40
RecommendationBased on the charts and explanations above, our opinion is buying the pair around 112.05 targeting 114.40 and stop loss with four-hour closing below 111.05 might be appropriate today