The EUR/JPY currency pair has convincingly maintained its bullish momentum by distancing itself from the additional support level at 157.00. It has successfully reached the initial target at 158.55.
Analyzing the chart, we observe the stochastic indicator approaching the 80 level, adding to the positive pressures and facilitating the prospects of achieving further positive targets. Consequently, there is an expectation of an upward movement towards 159.00, with potential attempts to breach the 159.60 resistance level.
Projected Trading Range and Trend
For today, the expected trading range for the EUR/JPY pair is anticipated to fluctuate between 157.90 and 159.00, with a prevailing bullish trend.