EURJPY Price Analysis
Current Scenario
The EURJPY pair is leveraging the persistent positive momentum within its bullish channel, supported further by the MA55 indicator, fluctuating near 169.40. This has generated additional bullish waves, pushing the price towards the key barrier at 170.90. It is crucial for the pair to surpass and hold above this barrier to confirm a continuation of the bullish trend. If successful, the next targets are initially at 171.60, with potential to reach 172.20. Conversely, failure to breach the barrier could reactivate a correctional bearish trend, targeting 170.10 and 169.70 before any new positive moves.
Expected Trading Range
The anticipated trading range for the EURJPY is between 170.00 and 171.60.
Trend Forecast
Bullish
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