The EURJPY pair, despite a subdued positive momentum, has demonstrated resilience by consistently achieving upward closings above the support line of the minor bullish channel at 159.00. This reaffirms our optimistic outlook for the upcoming period.
Foreseeing a period of sideways fluctuation until additional positive momentum is accumulated, we anticipate the initiation of new bullish waves. The initial target lies at the 160.40 level, with potential for further gains upon surpassing this hurdle, aiming for 160.85 as the subsequent target for bullish trades.
Today’s anticipated trading range is poised to fluctuate between 158.25 and 160.00, providing traders with reference points for potential price movements. The overall trend projection for the day remains bullish, highlighting the sustained strength and support for the EURJPY pair. Investors and market participants are advised to closely monitor price developments as the pair navigates potential bullish scenarios in the trading session.