EURJPY ended its bullish corrective rebound by posting another negative close below the additional barrier at 179.45, allowing the price to form new bearish waves and achieve some of the previously suggested bearish targets by touching 176.50.

 

The price currently has little choice but to resume its bearish attack, with the next bearish target at 175.75 expected to be reached soon. With sufficient bearish momentum, the price may also succeed in pressuring the support at 174.95.

 

The expected trading range for today is between 175.75 and 178.00

 

 

Trend forecast: Bearish