The EURJPY pair has unequivocally yielded to the prevailing bullish sentiment, clearly indicating its intentions as it breached the 159.45 resistance level and continued to secure additional gains by reaching the 159.90 mark. This resurgence in bullish momentum suggests a forthcoming move towards the 160.60 level. A successful breach of this milestone may propel the price further upwards, setting its sights on the next prominent target at 161.35.
It is essential to underscore the significance of maintaining stability above 158.55, as this will fortify the likelihood of the bullish bias persisting without the hindrance of unexpected setbacks before the outlined bullish objectives are achieved. Additionally, the Stochastic indicator’s progression towards overbought territories and the generation of positive momentum are poised to facilitate the process of realizing the aforementioned gains.
The projected trading range for today extends from 158.90 to 160.60.
Anticipated Direction for the Day: Bullish