EURJPY Price Analysis:
Expected Scenario:
The EURJPY pair has maintained its positive stability, leveraging the 172.80 level as additional support. This stability has allowed the pair to reach its next target at 173.60 and settle near it, indicating an attempt to gather the necessary momentum to target the bullish channel’s resistance at 174.10.
The potential risk of a trend reversal and the onset of a correctional bearish track will arise if the price breaks below 171.60 and holds. Such a move would confirm the formation of strong bearish waves, initially targeting 171.15 and potentially pressuring the next support at 170.70.
Expected Trading Range:
Today’s anticipated trading range for EURJPY is between 172.80 and 174.15.
Trend Forecast: Bullish
In summary, the EURJPY pair is expected to continue its bullish trend, with key support at 172.80 and targets at 173.60 and 174.10. Traders should monitor for a potential break below 171.60, which could signal the start of a bearish correction.
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