The EUR/JPY currency pair ended last week by breaching the 161.60 support level, driven by sustained negative momentum from key indicators. The pair is currently fluctuating around 161.00.
Further negative pressures are anticipated, with the next target set at 159.90. A break below this level could extend losses towards 158.90 and potentially down to 158.35, which would serve as the primary target for the ongoing trades.
Today’s expected trading range for EUR/JPY is between 161.65 on the resistance side and 159.90 on the support side.
Trend Forecast: Bearish
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