The EURJPY pair has embarked on a fresh phase of upward momentum, successfully surmounting the 159.20 resistance barrier. This development serves to affirm the pair’s readiness to reignite the bullish thrust that was previously anticipated, with the initial price target residing at 159.75.
Furthermore, the stochastic indicator’s inclination towards ascending into the overbought region aligns harmoniously with the fundamental stability observed within the broader bullish channel. This alignment increases the prospects of garnering additional positive momentum, thereby maintaining the prospect of achieving supplementary gains that could potentially extend towards the levels of 160.60 and 161.35.
For today’s trading activities, the envisaged price range oscillates between 158.90 and 160.60, reaffirming the prevailing bullish sentiment anticipated for the day.
Projected Trend for the Day: Bullish