EURJPY remains affected by conflicting signals from the main indicators, forming some bullish corrective waves and stabilizing near 178.00. However, this will not affect the main bearish scenario, which remains supported by the formation of 179.45 as an additional resistance level.

 

We expect the pair to continue mixed trading for now until it gathers the required bearish momentum to resume its negative attempts and reach the bearish targets, starting at 176.80 and 176.00. However, breaking above the additional resistance would give the price room to extend its corrective gains, with the next targets at 179.90 and the key resistance at 180.80.

 

The expected trading range for today is between 177.00 and 179.40

 

Trend forecast: Volatile within the bearish trend