The EURJPY pair succumbed to the resilience of the major resistance level at 161.90, signaling the initiation of a corrective bearish trajectory as it touched 161.35. This underscores the significance of garnering additional negative momentum to facilitate the breach of 161.30, paving the way for further downside targets starting at 160.90 and extending to the primary objective at 160.15.
However, a failure to secure the necessary breakthrough will affirm the persistence of a sideways bias, confining trading within a narrow range delineated by the prevailing support and 161.70.
The anticipated trading range for the day is situated between 161.60 and 160.90, with the expected trend leaning towards a bearish trajectory.