EUR JPY improved toward the session in Forex market
5/2/2017 11:35:10 AM
During Forex market the EUR/JPY has ultimately running away of a 3 day old integrative trading range and expanded the break-out momentum more beyond the 122.75 handle.
At present trading around 122.37 band, the cross preserved its bid tone for the 3rd successive session.
From current levels, the bullish momentum could get expanded towards 122.57 persistence, above which the pair is probable to head towards March monthly highs persistence near 122.83 area ahead of the 123.05 handle.
On the other hand, any retracement back below the 122.05 handle now appears to find strong support near mid-121.03s, which if broken could expand the corrective slide towards the 121.10 round figure mark.
FOREX market analysis by FxErvin.