Despite the weakness of the EURJPY pair last trading, its stability within the bullish channel’s levels and the continuation of forming extra support at 175.25 level supports our bullish suggestion in the near trading, to keep waiting for targeting 177.05 level reaching the top at 177.85.

 

Note that reaching below the current support and providing negative close will force it to activate the bearish corrective track, reaching 174.15 initially, and breaking this level will force it to decline towards 173.40, approaching the support of the main bullish channel.

 

The expected trading range for today is between 175.25 and 177.05

 

Trend forecast: Bullish