The EUR/JPY currency pair has experienced a period of sideways fluctuation, currently settling around the 160.20 level due to mixed signals from major indicators that have temporarily delayed a bullish move.
Despite this consolidation, our bullish outlook remains intact as long as the 159.20 level continues to serve as a strong support. This support is critical for gathering the necessary momentum to fuel a bullish rally, with a target of reaching the 161.60 barrier soon. A breakthrough above this level could pave the way for further positive targets at 162.20 and 162.75.
The expected trading range for today is between 159.80 and 161.60.
Trend Forecast: Bullish
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