The EURJPY pair has experienced a clear negative move after touching the 162.40 resistance level, successfully surpassing the first correctional target at 161.10. The pair then bounced back above this level to gather additional negative momentum.
The sustained stability below the resistance level, coupled with the stochastic indicator’s push for further negative momentum, supports the bearish outlook. The next target will be a confirmed break below 161.10, with additional negative targets at 160.25 and 159.60.
Expected Trading Range for Today:
Support: 160.25
Resistance: 161.60
Trend Forecast: Bearish
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