The EURJPY pair continues its downward movement, recently dipping below 157.25 and surpassing the previous support level at 156.20. This morning, the pair reached 155.60, marking further losses.
While a short-term bullish correction towards 156.65 may occur, it is unlikely to alter the primary bearish trend. The key resistance remains at the 160.25 level, with major indicators continuing to signal negative momentum. This is expected to push the price toward new lows, with potential targets at 155.10, followed by historical support at 154.40.
The expected trading range for today is between 155.10 and 157.30.
Trend Outlook: Bearish
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