The EURJPY currency pair reached its initial negative target of 155.90 yesterday, but encountered significant support at this level, halting the downward movement. This led to a correctional bullish attempt, with the pair rising to 158.45 before retreating below the 157.30 resistance.
Stochastic indicators are providing positive momentum, having surpassed the 50 level. The stability above the key support line further strengthens the possibility of the pair resuming its bullish trend. A break above the 157.30 barrier could push the pair toward 157.85, followed by the next target at 158.90.
The expected trading range for today is between 155.90 and 157.35.
Trend Forecast: Bullish
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