The EURJPY pair provided a new negative close below 181.70 barrier, to confirm delaying the bullish rally, activating with stochastic negativity by forming corrective waves and its stability near 180.10.

 

This corrective decline will not threaten the main bullish scenario, depending on the continuation of forming current support at 179.40 level, therefore, we will keep waiting for gathering bullish momentum to help it to form new bullish waves, to renew the pressure on the barrier and find an exit for achieving new gains in the upcoming period.

 

The expected trading range for today is between 179.65 and 181.70

 

Trend forecast: Bullish