The EURJPY currency pair has recently postponed its anticipated decline, closing positively above the 160.20 support level. The pair has shown resilience, benefiting from stochastic positivity and settling above 161.65. It is now testing the 55-period moving average (MA55), reaching 162.35.
This sustained positive momentum suggests the possibility of a corrective bullish rally, with the next targets being 162.75, followed by a potential push toward the 163.25 resistance level.
For today, the expected trading range is between 161.70 and 162.75.
Trend Outlook: Bullish
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