The EURJPY pair kept its positive stability above the extra support level at 172.20, which allowed it to achieve some gains, to notice its rally towards 173.20, approaching from the initial barrier at 173.40 level.

 

By the above image, we notice stochastic attempt to exit the oversold level, opening the way for more of the positive stations by its rally to 174.40, while suffering new negative pressure and reaching below 172.20 might push it to attack the support of the main bullish channel at 171.45 before any attempt to hit the positive targets.

 

The expected trading range for today is between 172.20 and 173.70

 

Trend forecast: Bullish