The EURJPY pair saw some negative movement last Friday, reaching the 155.80 level, reinforcing the previously suggested bearish outlook. However, conflicting signals from key indicators may lead to a period of consolidation, as the price gathers additional bearish momentum. This could pave the way for a potential break below the 155.35 level, opening the door for further downside targets at 154.45 and 153.60.
On the flip side, if the pair rallies above 158.90 and settles above this level, it would delay the bearish outlook, signaling the beginning of a corrective bullish phase. In this scenario, the EURJPY could target resistance levels at 160.00 and 160.80 before any further downside attempts.
For today, the expected trading range for EURJPY is between 155.35 and 157.60, with a bearish trend forecast.
Trend Forecast: Bearish
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