The EURJPY pair experienced a strong bullish performance yesterday, reaching the 165.00 level before quickly retracting below 164.75. This movement suggests a potential delay in the continuation of the bullish momentum, as the Stochastic indicator attempts to exit the overbought zone.
The divergence among key indicators may lead to a phase of mixed, sideways trading. If the price continues to fluctuate below the 164.75 barrier, the likelihood of activating a bearish trend increases, with potential declines targeting 163.80 and 163.30.
Today, the expected trading range is between 163.30 and 164.75, with an overall trend forecast leaning towards a bearish outlook.
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