The EURJPY pair ended the bearish correctional rebound by providing a new positive close above the support at 170.45, which allows it to surpass the negative factors and begin forming bullish waves by its rally above 172.00, forming an intraday obstacle against the positive attempts.

 

The main stability within the bullish channel’s levels support the chances for resuming the bullish attack, gathering positive momentum makes us expect reaching 173.20, then attempts to press on the barrier at 173.55 to find an exit for resuming the bullish attempts.

 

The expected trading range for today is between 172.00 and 173.55

 

Trend forecast: Bullish