The EURJPY currency pair has once again entered a phase of sideways trading, with consolidation occurring near the 157.80 mark. This lack of significant positive momentum is currently in balance, with crucial stability maintained above the support line of the bullish channel at 156.60, affirming the continuation of the anticipated positivity.
At present, there is an attempt by the stochastic indicator to generate positive momentum, raising expectations for the formation of bullish waves. The initial target for this bullish movement is the 158.55 level, followed by potential pressure on the 159.20 barrier. This could pave the way for a renewed bullish push in the near future.
The anticipated trading range for today is expected to fall between 157.20 and 158.55, with the overall trend anticipated to be bullish.