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HomeFOREXEURJPY Faces Resistance and Declines – Forecast for 09 December 2024

EURJPY Faces Resistance and Declines – Forecast for 09 December 2024

The EURJPY pair reached its correctional positive target at 159.57 last Friday, but faced strong resistance at this level, resulting in a reversal and subsequent losses. The price is now trading at 157.90.

The major indicators suggest continued negative momentum, which is likely to push the price towards the initial support at 157.30. A break below this support would pave the way for further declines, with targets set at 156.25 and 155.40.

The expected trading range for today is between support at 156.25 and resistance at 158.40.

Trend Forecast: Bearish

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