The EURJPY currency pair has demonstrated resilience against frequent negative pressures, despite conflicting signals from major indicators. It has managed to stay above the main support line within its bullish channel, located at 156.80, and has initiated some bullish movements, reaching 157.95.
The significance of consolidating this positive momentum cannot be understated. It may enable the pair to launch a bullish offensive, aiming for substantial gains and targeting levels around 158.55. Subsequently, it could attempt to overcome the obstacle at 159.20.
For today’s trading, the expected range is between 157.20 and 158.55, with a prevailing bullish trend anticipated.