The EUR/JPY pair is currently demonstrating a persistent bearish bias, as evidenced by frequent negative closures below the critical 157.60 resistance level. The market has formed a sideways fluctuation near 157.00, reflecting an ongoing conflict between major indicators.
It is crucial for the negative momentum to accumulate to trigger a bearish assault. The anticipated outcome is a gradual move towards the 155.90 level. A successful breach of this support level could lead to a further decline, targeting 155.40 as the next significant objective.
Traders are advised to monitor the price action within the expected range for today, projected to be between 157.35 and 155.90.
Expected Trend for Today: Bearish