EUR/JPY Price Analysis
Expected Scenario
The EUR/JPY pair has continued its bullish movement after surpassing the 170.90 barrier, approaching the first additional target of 171.60 yesterday. However, the stochastic indicator is attempting to exit the overbought areas, which may temporarily delay the bullish advance, potentially causing some instability until positive momentum is regained.
Once the positive momentum returns, it will likely reinforce the bullish trend, with new targets anticipated at 172.00 and 172.65.
Expected Trading Range
Traders can expect the EUR/JPY pair to trade within a range of 170.80 support to 171.60 resistance.
Trend Forecast
The trend forecast for EUR/JPY remains bullish, contingent on regaining and sustaining positive momentum.
Investors and traders should monitor these levels closely to navigate today’s forex market effectively.
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