The EUR/JPY pair has experienced a halt in its correctional bearish rebound, successfully testing the additional support level at 157.00 and maintaining its position above it. This confirms the continuation of the previously suggested bullish endeavors.
Additionally, the stochastic indicator, which has approached the 20 level, indicates the initiation of a process to alleviate negative pressures. This development opens up opportunities for the pair to regain positive momentum. The immediate targets for the pair lie at 158.45 and 159.20, which have previously posed as formidable resistance against recent bullish attempts.
Today’s expected trading range is forecasted to be between 157.20 and 158.45, with an overall bullish trend prevailing.