The EURJPY pair provided new negative close below the bearish channel’s resistance at 163.25 level, to confirm its surrender to the suggested negative scenario, to notice hitting the initial target at 161.30.

Stochastic exit from the overbought level will provide new negative momentum, that will allow it to reach below the moving average 55 and reach new negative stations by hitting 160.35 followed by the extra support near 159.55.

The expected trading range for today is between 160.35 and 162.25

Trend forecast: Bearish

The GBPJPY pair ended yesterday’s trading by providing new negative close below 189.90 resistance, to be forced to form mixed sideways trading by its stability near 189.00, due to the continuation of the contradiction between the main indicators, specifically by stochastic approach from 80 level as appears in the above image.

The price success to gain the negative momentum will allow it to renew the negative trading, to press on 38.2% Fibonacci correction level at 187.85, as breaking it will extend the trading towards the next negative target near 186.50, while breaching the resistance and holding above it will cancel the negative suggestion, and makes the price begin building a new bullish track, to target several positive stations that begin at 190.50.

The expected trading range for today is between 187.85 and 189.60

Trend forecast: Bearish

Platinum price succeeded to resume the bullish attempts by attacking the moving average 55, to approach from the positive target at $966.00, the continuation of the positive pressures by stochastic reach to the overbought level will increase the chances for forming new bullish waves, to attempt to settle again within the bullish channel’s levels, to increase the chances for recording extra gains that might extend to $981.00 and $994.00.

The price failure to enter the bullish channel’s levels will confirm its surrender to the sideways bias domination, noting that there is a chance for forming temporary negative rebound to target $945.00 and $930.00.

The expected trading range for today is between $950 and $981.00

Trend forecast: Bullish

Copper price surrendered to the sideways bias domination by its repeated fluctuation between 38.2% Fibonacci correction level, which represents extra support at $4.5000, while 50%Fibonacci correction level at $4.6600 represents an extra barrier against the attempt of resuming the bullish attack.

Noticing the stability of the moving average 55 above the current extra support, to reinforce the chances for renewing the bullish attempts, and surpassing $4.6600 level is important for opening the way for achieving extra gains that might extend towards $4.7500 and $4.8200.

The expected trading range for today is between 3.7500 and 4.0500

Trend forecast: Bullish