The EURJPY pair initiated a fresh bullish wave in the recent trading session, departing from the support level at 157.00. It successfully reached the initial bullish target at 158.35, where it currently resides. It’s noteworthy that the stochastic indicator approaching the 80 level is likely to generate new positive momentum.
This reinforces our bullish outlook, with our next target positioned at the resistance level of 159.35. We will closely monitor price action to identify the development of the next major trend.
The anticipated trading range for today is between 157.70 and 159.00.
Today’s Expected Trend: Bullish