The EURJPY currency pair resumed its upward momentum yesterday after testing the extended support line at 158.80, triggering a strong bullish rally that led it to reach the first major target at 160.60.
Despite a current negative pullback, the pair’s bullish trajectory remains intact as long as the 158.80 support level holds. Market participants are advised to await the reestablishment of positive momentum, which will facilitate a move beyond the 160.60 level and towards the next target at 161.10.
The projected trading range for today is between 159.80 and 161.10.
Trend forecast: Bullish
Related topics: