The EURJPY currency pair experienced a brief period of bullish correction last Friday, briefly testing the 167.50 resistance level before closing below it. This movement underscores the ongoing bearish trend, with the pair settling around 166.60.
To sustain the bearish outlook, it is crucial for the pair to maintain negative momentum and push lower. The next potential support levels are at 165.80, followed by 164.80, as the market seeks to reinforce the downward trend.
The anticipated trading range for today is between 167.40 (resistance) and 165.80 (support).
Trend Forecast: Bearish
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