The EURJPY pair ended yesterday by providing new negative close below 161.60 barrier, confirming its surrender to the domination of the previously suggested bearish bias, to notice targeting 160.70 recently.

Stochastic approach to 20 level will increase the chances of gathering the required additional negative momentum to attack 160.25, while breaking this obstacle will push the price to start targeting new negative stations by crawling towards 159.80 and 159.00.

The expected trading range for today is between 161.80 and 159.80

Trend forecast: Bearish

Despite the GBPJPY pair’s frequent stability within the sideways track, the major indicators provide the negative momentum to reinforce the chances of activating the bearish track, depending on the stability of 191.90 barrier.

We will start suggesting the bearish bias now, which might target 190.10 level initially, followed by waiting to attack the additional support at 189.10 in order to find a way to resume the negative attack in the upcoming period, noting that succeeding to breach the mentioned barrier and settling above it will cancel the negative overview and start targeting some positive stations by rallying towards 192.90 followed by reaching 194.10 on the medium-term basis.

The expected trading range for today is between 189.20 and 191.80

Trend forecast: Bearish

Platinum price provided new negative close below the MA55 at 962.00$, to continue forming additional obstacle against the recent bullish attempts and notice its react to the negative pressures by crawling towards 952.00$.

Also, stochastic attempt to provide the negative momentum will increase the chances of attacking the additional support at 942.00$, which breaking it will open the way to target new negative stations that might start at 920.00$ and 907.00$.

The expected trading range for today is between 920.00$ and 965.00$

Trend forecast: Bearish

Copper price failed to surpass the MA55, to continue forming solid obstacle at 4.2600$ and notice the beginning of forming negative wave, affected by stochastic negative momentum.

These factors along with 4.3300$ level forming major barrier allow us to start suggesting the domination of the bearish bias for now, waiting to attack 4.1400$ followed by attempting to press on the additional support at 4.0250$.

The expected trading range for today is between 4.0500$ and 4.2600$

Trend forecast: Bearish