The EURJPY pair reacted with stochastic exit from the overbought level this morning, which forces it to delay the bullish attack to reach below 172.00, announcing its surrender to the bearish correctional scenario by its stability near 171.38.

 

The continuation of the negative pressure might force the price to suffer extra losses by reaching 170.90 followed by the extra support at 170.45, while the price return to settle above 172.00 will provide chances for renewing the bullish attempts and reaching 172.60.

 

The expected trading range for today is between 170.45 and 172.60

 

Trend forecast: Bearish temporarily