Category: Forex News, News
Forecast update for EURUSD -05-05-2025
The EURJPY pair is forced to form a bearish correctional rebound this morning, affected by the stability of the resistance at 164.80, suffering clear losses by its approach from the initial support at 163.25 level.
Providing positive momentum by stochastic might increase the efficiency of the negative track in the current period, to expect reaching below the initial support and begin targeting several negative stations by reaching 162.45 and 161.90, while the price rally above the mentioned resistance will reinforce the chances for regaining the bullish bias, to expect targeting 165.25 level, reaching the next target at 166.40.
The expected trading range for today is between 162.45 and 164.10
Trend forecast: Bearish
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Written by : Editorial team of BIPNs
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