The EURJPY pair formed new decline yesterday to achieve the first negative target at 160.00, forming new additional support line, to push it to form temporary positive rebound and settle near 161.05.

 

Now, stochastic attempt to provide the negative momentum and the stability of 161.60 barrier allow us to keep the negative overview, waiting to attack 160.00 level again, while breaking it will open the way to target new negative stations that might extend towards 159.30 and 158.85 levels.

 

The expected trading range for today is between 160.00 and 161.60

 

Trend forecast: Bearish