The EURJPY pair experienced a series of negative moves yesterday, driven by resistance at the 160.25 level, and successfully reached the first bearish target at 158.60.
While a minor rebound has occurred, the prevailing negative momentum, supported by major technical indicators, strengthens the bearish outlook. This suggests that the pair could break through the 158.60 support and move lower. The next targets in the downside scenario are 157.90, followed by 157.30.
Expected Trading Range: 157.90 to 159.60
Trend Forecast: Bearish
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