The EURJPY pair has successfully breached the support line of the bullish channel at 161.70, signaling a shift towards the bearish track, reaching the level of 161.12 as anticipated.
It is crucial to emphasize the significance of witnessing new bearish closes beneath the broken support, now serving as a major resistance. This development is expected to facilitate the downward trajectory, targeting key levels at 160.85 and subsequently the 61.8% Fibonacci correction level at 160.20.
Key Trading Range for Today: 161.55 – 160.85
Trend for Today: Bearish