The EURJPY currency pair has continued its negative trajectory, breaking below the bullish channel’s support line at 169.90. This move confirms the shift to a bearish trend, with the pair now experiencing significant losses, currently trading around 167.65 and approaching the MA55.
The price may exhibit some sideways movement; however, sustained trading below the 169.60 level, which now acts as a key resistance, is expected to reinforce the bearish sentiment. The next targets are anticipated at 167.40 and potentially 166.45.
The forecasted trading range for today is between 169.20 and 167.00.
Trend Forecast: Bearish
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