The EURJPY pair has resumed its downward trajectory, showcasing robust negative movements that resulted in a breach of the 155.40 level, previously serving as an intraday hurdle against recent bearish activities. This breach has solidified the pair’s acknowledgment of the prevailing bearish sentiment, with the exchange rate reaching 153.85.
Stochastic indicators are signaling a renewed attempt to generate negative momentum, instilling expectations of a smoother descent below the 38.2% Fibonacci correction level at 154.45. This adjustment is anticipated to facilitate the pursuit of the next primary target at 153.15.
Analysts project the trading range for the current session to fluctuate between 154.80 and 153.20, aligning with the persisting bearish trend anticipated throughout the day.