EURJPY price attempted to record some additional gains during Friday’s trading, touching 181.55. However, its subsequent reversal below the resistance at 180.80 confirms its adherence to the previously suggested bearish scenario, with the price currently stabilizing near 180.15.

 

The price may now be forced into some sideways trading until it gathers the additional bearish momentum required to activate the downside attack. We expect it to reach 179.45 soon, followed by 178.60.

 

The expected trading range for today is between 179.45 and 180.80

 

Trend forecast: Bearish