The EURJPY pair ended the last bullish corrective rally by reaching 181.95 level, activating with the main indicators’ negativity, suffering intraday losses by reaching 180.20 level, to settle above the key support at 180.80 level.

 

The suggested scenario in the near and medium trading depends on the strength of the current support, the stability above it will provide a chances to activate the bullish corrective trend, to attempt to reach 182.10 and 182.70, while providing a negative close below the current support will confirm its surrender to the bearish scenario, which forced it to suffer new losses by reaching 180.30 and 179.45.

 

The expected trading range for today is between 180.80 and 182.10

 

Trend forecast: Bullish