The EURJPY pair has recently experienced a correctional bearish rebound, slipping below the 163.25 level and reaching additional support at 162.10, where it has managed to hold above, as indicated on the chart.
The Stochastic indicator is attempting to provide positive momentum, supporting the maintenance of the primary bullish trajectory driven by overall stability within the bullish channel. Anticipated price action involves renewed pressure on the 163.50 level. A successful breach of this level is expected to trigger robust bullish waves, targeting 163.90, with further potential to reach the bullish channel’s resistance at 164.65.
The projected trading range for today is anticipated to fluctuate between 162.30 and 163.50.
Expected Trend for Today: Bullish