The EURJPY currency pair has managed to close below the 158.85 support level, reducing the impact of the negative pressures driven by the positive momentum from major indicators. The pair has since attempted to form a bullish wave, stabilizing near the 159.70 level.
To reinforce the bullish outlook, it is crucial for the pair to gather further positive momentum. Surpassing the 160.00 level would open the door to targeting higher levels, with key resistance zones at 160.80 and 161.65.
The expected trading range for today is between 159.00 and 160.80.
Trend Outlook: Bullish
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