The EURJPY pair approached the additional positive target at 164.25 but settled below it, influenced by the stochastic attempt to exit the overbought areas. This development may temporarily delay the resumption of the bullish trend.
Nevertheless, the overall stability within the bullish channel and remaining above the additional support at 162.95 suggest waiting for the accumulation of additional positive momentum to reinitiate the upward movement. The goal is to reach the bullish channel’s resistance at 164.65. Observing its behavior at this level will help identify the subsequent targets.
The anticipated trading range for today is between 163.50 and 164.70.
Today’s trend is expected to be bullish.