The EUR/JPY currency pair recently experienced a temporary downturn, testing the initial support level at 157.00. However, it subsequently resumed positive momentum, rallying towards 157.90. The pair has demonstrated frequent stability within a bullish channel, and the Stochastic indicator’s attempts to provide positive momentum suggest the potential activation of a bullish move.
This bullish scenario implies that the EUR/JPY pair is poised for further upward movement. Traders can anticipate reaching positive price levels, with targets set at 159.20 and 159.80.
The expected trading range for today is projected to be between 157.40 (support) and 159.20 (resistance).
In summary, the expected trend for today is bullish, indicating the potential for the EUR/JPY pair to continue its upward trajectory.