The EURJPY currency pair encountered impediments in resuming its bullish offensive, a consequence attributed to the steadfastness of the 159.20 barrier. This barrier’s influence compelled the pair to establish a fresh phase of lateral fluctuation, culminating in its settlement near 158.75. It is pertinent to underscore that the presence of positive catalysts, notably the principal stability observed within the bullish channel and the enduring support at 157.10, fortifies the foundation for prospective bullish endeavors within the immediate and medium-term scopes.
Furthermore, the stochastic indicator’s ascent above the pivotal 50 level is poised to facilitate the accumulation of positive momentum. This development heightens the potential for breaching the prevailing barrier and inaugurating supplementary gains, possibly extending towards the levels of 159.80 and 160.60.
The envisaged trading range for the current day spans from 158.40 to 159.80.
The projected trend for today is distinctly bullish.