The EURJPY pair surpassed the previously suggested negative targets, facing 180.80 support to begin forming bullish corrective waves, to settle near 181.70 level.

 

The suggested scenario depends on the strength of the current support in the near trading, where its stability makes us expect renewing the attempts of recovering the previous losses by its rally towards 182.35 reaching 182.80, while facing new bearish pressures and reaching below the current support, which will force it to suffer more losses by reaching 179.90 and 179.45 initially.

 

The expected trading range for today is between 180.90 and 182.35

 

Trend forecast: Bullish