The EURJPY pair provided a strong bullish rebound after hitting 158.20 level, announcing delaying the negative trading by surpassing the bearish channel’s resistance at 160.90, to notice achieving some of the gains by hitting 161.95 level.

 

Note that the stability of the moving average 55 below the current trading will increase the chances for gathering the positive momentum, which provides chances for targeting more of the positive stations, by surpassing 162.50 level, then repeat the pressure on 163.25 barrier, while the price return to settle below 160.90 will cancel the bullish suggestion, which forces it to activate the negative attack again by targeting 160.10 level initially.

 

The expected trading range for today is between 160.90 and 162.50

 

Trend forecast: Bullish