The EUR/JPY pair successfully continued its bullish momentum yesterday, benefiting from the stochastic oscillator reaching overbought levels. This upward movement allowed the pair to achieve the previously anticipated target of 163.88.
The pair may engage in some sideways trading as it gathers additional positive momentum. This consolidation should help maintain stability above the 162.65 support level, setting the stage for new bullish targets at 164.30 and 164.85.
The expected trading range for today is between 162.80 and 164.30.
Trend Forecast: Bullish
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