The EURJPY forms minor bullish channel – Analysis – 14-11-2023
2023-11-14 05:33AM UTC

The EURJPY pair formed minor bullish channel recently, to settle above 161.70 support line and achieve some gains by reaching 162.38 yesterday, while stochastic attempt to provide the positive momentum allows us to expect renewing the bullish attempts, to target 162.70 level followed by attempting to press on 163.10 resistance line.


The risks of changing the bullish trend and starting the correctional bearish track will appear in case the price declined sharply and closed negatively below 161.30, to force it to suffer many losses that might start at 160.85.



The expected trading range for today is between 162.00 and 162.70


The expected trend for today: Bullish

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