The EURJPY pair formed a new bullish rally, taking advantage of stochastic reach to the overbought level, hitting the second positive target at 166.45, forming some mixed trading by reaching 165.75.

 

Note that the main stability within the bullish channel’s levels by forming extra support at 164.80 level, these factors make us keep the bullish suggestion, to keep waiting for breaching the barrier at 166.45, which allows it to reach new bullish station that might begin at 167.25 reaching the bullish channel’s resistance at 168.50.

 

The expected trading range for today is between 165.30 and 167.00

 

Trend forecast: Bullish