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The EUR/JPY pair continues to show signs of weakness, influenced by the negative signals from key indicators, despite remaining stable above the support line at 161.60. The pair experienced temporary negative movements yesterday, reaching the 162.10 level.
Looking ahead, we anticipate a period of mixed trading until positive momentum can be established to break through the resistance at 163.30, which would signal a return to a bullish trajectory. Conversely, if the support line at 161.60 is breached, it would confirm a shift to a bearish trend, with potential target levels at 161.10 and 160.30.
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Today’s expected trading range is between 161.60 and 163.00.
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Trend Outlook: Bullish
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