The EUR/JPY pair formed an intraday negative wave yesterday, attempting to decline below the key support located at 125.35 and bounce quickly, thus offering a positive close by moving at 125.90. It makes us keep our positive overview. The price is likely to reach the first target at 126.80. A breach of this level will confirm the continuation of the positivity for the upcoming period.
We expect that the trading range for today is between 125.60 and 126.90.