Coffee price started to form some correctional bearish waves after touching 254.85, affected by its crawl below 147.45 barrier again, to notice suffering some losses by reaching 227.50.

Note that the main stability within the bullish channel and 219.80 level forming strong additional support allow us to wait to gather the positive momentum to manage to renew the bullish attempts and target 241.20 level, followed by attempting to breach the mentioned barrier in order to resume the bullish attack and reach the next main target at 260.60.

The expected trading range for today is between 224.60 and 241.20

Trend forecast: Bullish

Natural gas price succeeded to reach the first additional negative target at 2.020$, to form intraday obstacle against resuming the negative attack and fall under the effect of stochastic rally above 50 level, to notice rallying towards 2.080$ again.

The current positive rebound won’t affect the price’s bearish track due to its consolidation within the bearish channel, in addition to 2.150$ forming the additional barrier, thus, we will keep waiting to gather the negative momentum again to manage to renew the negative attempts and reach the additional stations at 1.950$ and 1.860$.

The expected trading range for today is between 2.100$ and 1.950$

Trend forecast: Bearish

The EURJPY pair still lacks the negative momentum until this moment, to interpret the reasons of yesterday’s weak sideways trades, noticing its consolidation near 167.10 level, noting that the consolidation of the MA55 near 167.55 barrier will increase its stability, to confirm confining trades within the bearish track and keep waiting to renew the negative pressures on the additional support at 166.35, which breaking it will open the way to reach the negative stations at 165.80 and 164.80.

The expected trading range for today is between 167.40 and 165.80

Trend forecast: Bearish

The GBPJPY pair lost the negative momentum after stochastic rallied towards the overbought areas, to force it to postpone resuming the negative attack and form correctional rebound to settle near 198.45 now.

We remind you that the bearish scenario for the near-term and medium-term period will remain valid as long as 200.25 level keeps forming the additional barrier, to keep waiting to gather the additional negative momentum soon and ease the mission of settling below 197.50 followed by targeting new negative stations by crawling towards 196.20 followed by reaching the next main target at 195.30.

The expected trading range for today is between 198.80 and 196.20

Trend forecast: Bearish