Overview
The EUR/JPY pair trades steadily above the moving average 55, which keeps the 125.35 level as a critical support currently. Therefore, we will prefer the bullish bias until the price reaches the first target at 127.15. We remind you that a decline in the price below 125.35 levels will cancel the bullish overview and new bearish bias will start forming, attempting to reach 124.20 as the initial negative target.
We expect the trading range for today to be between 125.35 and 127.15.
