The EURJPY pair began this morning with new positivity by surpassing the resistance of the bullish channel’s resistance at 171.70 level, recording some extra gains by holding near 172.25.

 

Note that stochastic stability within the overbought level might decelerate the chances of forming a strong bullish rally, but its repeated stability above 171.10 that attempts to form an extra support might assist to motivate the continuation of the positivity, to expect reaching to 172.85 followed by 161.8%Fibonacci extended level at 173.40

 

The expected trading range for today is between 171.50 and 171.85

 

Trend forecast: Bullish