[m.youssif]

EURJPY Forecast
The EURJPY attempted to push lower yesterday bottomed at 120.14 but closed higher at 121.28. The bias is neutral in nearest term. The major outlook remains bullish but we have a CCI bearish divergence as you can see on my daily chart below suggests potential bullish exhaustion and bearish pullback. Expected daily range at 122.59 – 119.30. Immediate resistance at 122.00. A clear break above that area would change the intraday bias to bullish testing 122.59. A clear break above 122.59 could end the current bearish correction phase but we need a clear break above 123.31 to continue the major bullish scenario. Immediate support at 120.75. A clear break below that area would change the intraday bias to bearish testing 119.30.

[m.youssif]

EURJPY Forecast
The EURJPY attempted to push lower yesterday bottomed at 120.14 but closed higher at 121.28. The bias is neutral in nearest term. The major outlook remains bullish but we have a CCI bearish divergence as you can see on my daily chart below suggests potential bullish exhaustion and bearish pullback. Expected daily range at 122.59 – 119.30. Immediate resistance at 122.00. A clear break above that area would change the intraday bias to bullish testing 122.59. A clear break above 122.59 could end the current bearish correction phase but we need a clear break above 123.31 to continue the major bullish scenario. Immediate support at 120.75. A clear break below that area would change the intraday bias to bearish testing 119.30.