EURJPY Price Analysis
The EURJPY pair experienced a loss of positive momentum earlier today, resulting in a temporary negative rebound subsequent to touching the 169.80 level. This movement led to a test of the second support at 168.90, which holds significant importance in confirming the continuation of the bullish trend in current trading sessions. Moreover, stochastic indicators are signaling a shift towards positive momentum, enhancing the likelihood of initiating bullish attempts. Market analysts anticipate a rally towards 169.45, followed by a target of 170.10 as a key obstacle to overcome, paving the way for the resumption of positive trades in the near future.
Expected Trading Range
The projected trading range is anticipated to lie between the support level at 168.90 and resistance at 170.10.
Trend Forecast: Bullish
Given the current market dynamics and the potential for renewed positive momentum, a bullish trend is forecasted for the EURJPY pair.
