The EURJPY faces solid resistance – Analysis – 31-3-2023

The EURJPY pair reacted to the major indicators’ positivity, forming new bullish rally to face strong resistance at 145.65, to form solid obstacle against the attempt to move to the bullish track, noticing its rebound towards 144.85 now.

The upcoming scenario depends on the strength of the mentioned resistance, as its stability allows us to expect the beginning of forming negative waves that might push the price to decline towards 144.00 and 143.45 levels, while succeeding to surpass 145.65 resistance will confirm moving to the bullish track, to start targeting more positive stations, and 146.25 will form the first target for the bullish track.

The expected trading range for today is between 145.65 and 144.00

The expected trend for today: Bearish