The EURJPY pair remains influenced by a bearish sentiment, consistently closing below the 157.10 barrier. The presence of moving averages in proximity to this level supports the downtrend, evident in recent negative waves that have led to the attainment of the initial target at 155.00.
Currently, the stochastic indicator is trending towards oversold territories, amplifying the downward pressure and affirming the likelihood of sustained negativity in the near future. The next anticipated targets include 154.55, followed by the extended support at 153.70.
The projected trading range for the day is expected to fluctuate between 156.00 and 154.55.
Forecasted Trend for Today: Bearish