The EURJPY pair resisted the negative pressure that comes from stochastic exit from the overbought level, to settle above the initial support at 184.80 level, to rally higher and settle near 185.70 level.

 

Note that breaching 186.05 barrier and holding above it is important to confirm its readiness to resume the bullish trend by reaching 186.65 initially reaching 187.30, while the failure to breach this level will increase the chances of forming new corrective waves, to force it suffer some losses by reaching the initial support near 184.80.

 

The expected trading range for today is between 185.80 and 186.05

 

Trend forecast: Sideways