The EURJPY pair has capitalized on robust positive pressures, propelled by the stochastic indicator reaching overbought levels. This resulted in a rally above the minor bearish channel’s resistance line at 159.90, with the pair registering gains and reaching 160.20.
To affirm its readiness for a bullish attack in the short-term and medium-term, the price needs to secure a new positive close above the breached resistance. In such a scenario, the pair is expected to target 160.65, followed by 161.10.
The anticipated trading range for today is forecasted to be between 159.95 and 161.10.
Overall, the expected trend for today is bullish, reflecting the current positive momentum in the EURJPY pair.