The EURJPY pair confirmed its surrender to the bearish corrective bias dominance by providing several negative closes below 181.75 barrier, forming some corrective trading by targeting 179.75 level.

Despite the main stability within the bullish channel’s levels, the stability below the previously mentioned barrier and stochastic attempt to provide negative momentum support the dominance of the corrective bias, to target the initial support at 179.30 and breaking it might extend the trading towards 178.60, forming the main target of the current trading.

The expected trading range for today is between 179.30 and 181.10

Trend forecast: Bearish

The GBPJPY pair ended its last bullish rally by recording the target at 206.90, facing strong barriers to push it to activate the attempts of gathering the gains by reaching 204.30, to provide some sideways trading by its fluctuation near %2.00 Fibonacci extension level at 205.20.

Note that stochastic exit from the overbought level might force the price to resume the bearish corrective attempts, to renew the pressure on 204.20 level, then wait for testing extra support at 203.75. 

The expected trading range for today is between 204.30 and 205.70

Trend forecast: Bearish

Platinum price faced a key support extension in its last negative attempts near$1488.00, which forces it to delay the bearish corrective scenario and begin providing sideways trading, fluctuating near $1530.00.

Providing bullish momentum by the main indicators, especially with stochastic exit from the oversold level that might help it to provide new chance for achieving some gains by its rally towards $1575.00 then repeating the pressure on the barrier at $1605.00.

The expected trading range for today is between $1500.00 and $1575.00

Trend forecast: Bullish

Copper price continued to form slow trading, keeping its stability within the bearish corrective track due to the continuation of forming strong barrier at $5.2000 level in the last trading.

Note that the continuation of providing negative momentum by stochastic reach below 50 level will increase the negative pressure on the trading, keeping our expectation of testing the support near $4.7500, where breaking it will force the price to suffer extra losses by targeting $4.4500 level.

The expected trading range for today is between $4.7500 and $5.1000

Trend forecast: Bearish