The EURJPY pair took advantage of the extra positive momentum due to stochastic reach to the overbought level, noticing by the above image the price attempt to breach the barrier at 173.50, to confirm the continuation of the positivity that depends on the stability of the trading within the main bullish channel levels that appears in the above image.

 

The price should provide new positive close above the current barrier, to ease the mission of targeting the positive stations that are located near 174.25 reaching 1.809%Fibonacci extension level near 175.20, while the price return to settle below the current barrier will force it to activate the bearish correctional track, forcing it to suffer several losses by reaching 172.35.

 

The expected trading range for today is between 173.00 and 174.25

 

Trend forecast: Bullish