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10.08.201618:23 Forex Analysis & Reviews: Daily analysis of EUR/JPY for August 10, 2016

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 10.08.2016 analysis

Overview

The EURJPY pair formed an intraday negative wave yesterday and declined towards 112.90 as shown on the chart. Holding positions above the 112.20 support will provide the pair with new positive momentum followed by rallying towards our expected target at 115.10. We should note that any attempt to decline below the mentioned support will cancel correctional bullish attempts and begin a new negative attack that targets 110.80 levels followed by the low 109.50 areas. The expected trading range for today is between 112.20 and 115.10.

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