The EURJPY pair succeeded in resuming its bullish attempts yesterday, to hit the extra target at 177.80, to settle below it announces its confinement within tight track that is represented by the initial support at 176.95, and 177.80 level forms a key barrier against the bullish trading.

We remain neutral due to the instability of the price, until surpassing the previously- mentioned levels, to confirm the suggested targets in the near trading, the price success in breaching the barrier and holding above it will increase the chances for resuming the main bullish trend, attempting to reach 178.45 followed by the trading towards the bullish channel’s resistance at 179.60 level, while the decline below the extra support will support activating the attempts of gathering the gains, to reach 176.20 directly, then testing the next support near 175.20.

The expected trading range for today is between 176.90 and 177.80

Trend forecast: Neutral

The GBPJPY pair ended the bullish rally by hitting 205.35 level, facing 2.00%Fibonacci extension level, forming a new barrier against the bullish attack, providing weak sideways trading by its stability near 204.50.

Note that stochastic attempts to exit the overbought level might force the price to provide corrective trading to target 203.80 and 203.35 level, while breaching the current barrier will confirm its move to new bullish stations, to attempt to achieve extra gains by its rally to 205.75 reaching 207.05. 

The expected trading range for today is between 203.80 and 205.15

Trend forecast: Bearish

Platinum price repeated providing positive closes in the last period by its stability above $1600.00 level, forming an extra support against the bullish attempts, attempting to settle within the minor bullish channel’s levels by its fluctuating near $1655.00.

Note that stochastic attempt to settle within the overbought level might provide extra positive momentum, reinforcing the mission of recording positive stations, which might begin at $1690.00 and $1727.00, while the price decline below the mentioned extra support might force it to provide mixed trading, and there is a chance to decline towards $1665.00 before recording any of the suggested extra targets.

The expected trading range for today is between $1600.00 and $1690.00

Trend forecast: Bullish

Copper price began today’s trading with a new positivity, attempting to breach the barrier at $5.0600 level, to confirm its surrender to the suggested bullish scenario.

We recommend waiting for confirming the activation of the price with the positivity of the main indicators by its rally towards $5.200 level, then attempt to press on the barrier at $5.3200, forming the initial main target of the current bullish track.

The expected trading range for today is between $4,988 and $5.2000

Trend forecast: Bullish