An upswing in momentum has taken hold for the EURJPY pair, as evidenced by the stochastic rally surpassing the 50 mark. This development concurs with the overarching stability witnessed within the delineated bullish channel showcased in the chart. As the pair sets its sights ahead, an anticipated advance towards the 159.20 barrier looms on the horizon. Emphasis is placed on the pivotal importance of surmounting this level, as doing so is anticipated to pave the way for further upward movement, with potential extensions towards 159.80 and subsequent strides towards the primary objective situated at 160.60.
Market observers are poised to engage with a trading range projected to span from 157.70 to 159.20.
Today’s envisaged trend remains bullish in nature.