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HomeLatestEURJPY Maintains Sideways Movement – June 26, 2024
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EURJPY Maintains Sideways Movement – June 26, 2024

EURJPY Price Analysis

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The EURJPY pair traded within narrow ranges yesterday, oscillating between the additional support at 170.70 and the solid resistance at 171.60. The resistance continues to impede any attempts to resume a bullish advance.

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Consequently, a neutral stance is advisable for today, awaiting a breakout above one of these levels to determine the next targets for the near-term and medium-term outlooks. A breach above the resistance could pave the way for further gains towards 172.00 and 172.65. Conversely, a breakdown below the support and sustained trading below it would signal a corrective bearish phase, potentially targeting levels at 170.10 and 169.55.

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Expected Trading Range

  • Support: 170.70
  • Resistance: 171.60

Trend Forecast: Sideways

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