The EURJPY pair capitalized on its steadfast position within a minor bullish channel, coupled with the stability observed at the 159.55 support level. This favorable scenario prompted the formation of a new bullish wave, resulting in notable gains as the pair reached 160.38.
An anticipated period of sideways fluctuation is expected, with the key factor being the consistent stability above the aforementioned support line. Such stability is likely to reignite bullish endeavors, aiming to surpass the 160.40 threshold and pave the way for additional gains, potentially reaching levels at 160.60 and 161.20.
The projected trading range for the current session is anticipated to fluctuate between 159.80 and 161.20, reflecting the ongoing dynamics in the EURJPY pair.
Today’s trend is expected to be bullish, with market participants advised to closely monitor the price action and key support levels, as the pair aims to sustain its positive momentum and potentially continue its upward trajectory.