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EUR/JPY Provides Positive Signal – Forecast for June 18, 2024

Expected Scenario

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The EUR/JPY pair has indicated a positive signal, confirming a bullish bias with a close above 168.90, settling near 169.30. This suggests the pair is surrendering to a bullish trend.

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To continue its upward trajectory, the pair requires new positive momentum. The initial targets for this bullish attack are set near 170.10, with further potential to reach 170.70. However, if the price falls back below 168.90, a temporary correctional bearish trend may activate, potentially targeting 168.20 and eventually reaching the bullish channel’s support line at 167.60.

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Expected Trading Range

  • Support: 168.90
  • Resistance: 170.10

Trend Forecast: Bullish

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