The EURJPY currency pair achieved its target levels on Tuesday, surpassing the key resistance point of 157.30 and initiating a strong bullish rally. The pair reached the anticipated target of 159.20, following the breakout.
Looking ahead, support is now expected to form around 158.20, coupled with positive momentum indicated by the stochastic oscillator. This increases the likelihood of continued bullish movement, with the next target set at the 160.00 level. A break above this could push the pair towards the 160.80 level, in line with the 55-period moving average.
The expected trading range for today is between 158.25 and 160.00.
Trend Outlook: Bullish
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