The EURJPY pair provided several mixed waves since yesterday, due to the contradiction between the main indicators’ positivity and the overall stability below the bearish channel’s resistance at 163.20, to notice its stability near 161.85 without achieving any of the waited negative targets.

The price needs a new negative momentum, to reinforce the efficiency of the bearish track, which might target 160.60 level and 159.60, while the price surrender to the positivity of the main indicators and its rally above the main resistance will confirm its readiness to build a new bullish track, to begin targeting several positive stations by attacking 164.10 level initially, reaching 164.85.

The expected trading range for today is between 160.60 and 162.50

Trend forecast: Bearish

The GBPJPY pair confirmed its surrender to the bearish scenario by providing new closes below the resistance at 189.60, noticing by the above image forming strong bearish waves, achieving the waited targets in the previous report by holding near 186.20.

Note that the attempt of 38.2%Fibonacci correction level at 188.00 to form an extra barrier that will assist to confirm the continuation of the negativity, which makes us suggest suffering several losses by targeting 185.60 level, then repeat the pressure on 184.40.

The expected trading range for today is between 185.60 and 187.40.

Trend forecast: Bearish

Copper price didn’t move anything since yesterday’s trading, delaying the bullish rally by its repeated fluctuation below 38.2%Fibonacci correction level, which represents an intraday obstacle by its stability near $4.4000.

The continuation of stochastic attempts to provide positive momentum and the repeated stability above the critical support at $4.000, these factors make us keep the bullish suggestion, to expect the mentioned obstacle and holding above it, targeting extra positive stations that begin at $4.5600 and $4.6800.

The expected trading range for today is between $4.2300 and $4.5600

Trend forecast: Bullish

The EURUSD pair rises high in its recent intraday trading, breaching the key resistance level at 1.1200 and extending the strong gains it posted yesterday. This rise comes under the dominance of the main bullish trend and trading along a trend line. The latest rise occurred despite the emergence of negative overlapping signal from the Relative Strength Index (RSI), as it enters extreme overbought areas, showing a strong buying momentum.