The EURJPY pair has firmly adhered to a bearish trend, settling frequently at the 162.75 barrier and showing strong negative momentum. This led to the pair achieving its initial target of 160.20.
Given the stochastic indicators are adding further negative momentum, the likelihood of breaking below 160.20 is high. This would potentially lead to a continued decline towards 159.10, followed by support at 158.05.
The expected trading range for today is between 159.10 support and 161.30 resistance.
Trend Forecast: Bearish
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