The EURJPY pair succeeded in resuming its bullish attempts yesterday, to hit the extra target at 177.80, to settle below it announces its confinement within tight track that is represented by the initial support at 176.95, and 177.80 level forms a key barrier against the bullish trading.

 

We remain neutral due to the instability of the price, until surpassing the previously- mentioned levels, to confirm the suggested targets in the near trading, the price success in breaching the barrier and holding above it will increase the chances for resuming the main bullish trend, attempting to reach 178.45 followed by the trading towards the bullish channel’s resistance at 179.60 level, while the decline below the extra support will support activating the attempts of gathering the gains, to reach 176.20 directly, then testing the next support near 175.20.

 

The expected trading range for today is between 176.90 and 177.80

 

Trend forecast: Neutral