The EURJPY pair struggled to activate the correctional bullish trend yesterday, remaining below the 158.80 resistance level, which led to further losses, bringing the price down to 156.38.
While stochastic indicators suggest a potential exit from oversold conditions, this may result in mixed trading. The key factor for confirming the bearish outlook remains the price’s sustained position below the 159.70 barrier. If this trend persists, additional declines are expected, with the next targets at 155.80 and 155.30.
The expected trading range for today is between 155.80 support and 158.40 resistance.
Trend Forecast: Bearish
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