The EUR/JPY pair encountered significant downward pressure yesterday, leading to a bearish correction on an intraday basis as it tested the 171.60 level. However, the pair swiftly rebounded bullishly from this point, signaling intentions to resume its primary bullish trend and target positive objectives starting at 176.00.
Analysts anticipate the continuation of the bullish trend today, with emphasis on the importance of the 171.60 level. A break below this support could halt the anticipated upward movement, potentially leading to further bearish correction.
Today’s projected trading range spans between 172.50 and 174.20.
Trend Forecast: Bullish
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