The EURJPY pair has experienced negative pressure since yesterday, forming a series of bearish waves and reaching the initial target at 162.45 during this morning’s session. The pair is now stabilizing above this level.
For the decline to continue, it is essential for the price to close below the 163.25 level, which would generate the additional negative momentum needed to push the pair lower. If this occurs, the next target is expected to be 161.90, followed by the 55-period moving average around 161.35.
Expected Trading Range for Today: 161.90 – 163.25
Trend Forecast: Bearish
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