The EURJPY pair announced its readiness to activate the bearish correctional track by providing some negative trading by reaching below 163.35 level, stochastic exit from the overbought level might increase the negative pressure on the price, to keep preferring the bearish correctional bias domination, which might target 162.40 level reaching the support at 161.85.

 

Note that the chance of regaining the bullish bias remains valid, depending on forming several bullish waves that allows it to surpass 163.85 level, and holding above it to ease the mission of achieving several gains that begin at 164.85.

 

The expected trading range for today is between 162.40 and 163.55

 

Trend forecast: Bearish