EURJPY took advantage of the repeated negative pressures during yesterday’s trading, forming a new bearish attack and currently touching the bearish target at 179.45, while settling above it after forming additional support against further downside moves.

 

The price may be forced to trade sideways amid its confinement between the current support, while 180.80 continues to form a strong barrier against bullish attempts. However, a successful break below 179.45 followed by a bearish close would strengthen the bearish scenario, with the price expected to gradually target 178.60, followed by 177.80.

 

Expected trading range for today: 178.60 and 180.35 

 

Today’s forecast: Bearish