The EURJPY currency pair has struggled to maintain momentum above the 160.25 mark, as it succumbed to the negative pressure from key technical indicators. This shift has prompted a bearish trend, with the pair settling near the 159.20 level.
Currently, the stochastic indicator remains below the 80 threshold, signaling the possibility of further negative pressures. As a result, the pair is expected to continue its descent, with potential support around the 158.60 and 157.90 levels. However, if the pair manages to breach the 160.25 resistance level and maintain trading above it, this could signal a return to a bullish trend, with targets shifting towards the 161.10 and 161.65 zones.
For today, the expected trading range is between 158.60 and 160.00.
Trend Forecast: Bearish
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