The EUR/JPY currency pair ended yesterday with a close below the key level of 161.60, reinforcing the previously anticipated bearish trend. The pair is currently targeting a new low around 160.70.
The stochastic indicator approaching the 20 level suggests that the negative momentum could intensify, potentially driving the price down to 160.25. A break below this level may further extend the decline, with subsequent targets at 159.80 and 159.00.
Today’s expected trading range for EUR/JPY is between 161.80 (resistance) and 159.80 (support).
Trend Forecast: Bearish
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