The EURJPY pair kept its stability below the MA55 at 160.90 on last Friday, to continue forming solid obstacle against resuming the bullish attack and notice forming sideways trades by settling near 160.00.

 

We remind you that the stability of the additional support 158.85 allows us to wait to gather the required positive momentum to surpass the current obstacle and target new positive stations that start at 161.65 and 162.00, while facing strong negative pressures and crawling below the additional support will force it to suffer big losses that might extend towards 158.30 followed by reaching the next support at 157.30.

 

The expected trading range for today is between 159.40 and 160.90

 

Trend forecast: Bullish