EURJPY Pair Analysis

Expected Scenario

• The EURJPY pair was affected by frequent positive pressures caused by stochastic consolidation within the overbought areas, forming a new bullish wave and attempts to surpass the 169.40 barrier.
• It is important to provide a new positive close above the current barrier to confirm its preparation to target new positive stations that might extend towards 169.90 followed by reaching 170.50. Turning back to fluctuate below the current barrier will force it to activate the correctional bearish track, moving towards 168.85 and 168.10 in the medium-term basis.

Expected Trading Range

Between 169.20 support and 169.90 resistance.

GBPJPY Pair Analysis

Expected Scenario

• The GBPJPY pair succeeded in holding above the 197.10 level for a long time, forming a new additional support line, which eases the mission of renewing the bullish attempts and noticing its approach to the first additional target at 198.00.
• The major indicators continue to provide positive momentum, increasing the chances of touching 198.55 soon, followed by waiting to attack the 198.90 resistance line, which forms the key to detect the next main trend.

Expected Trading Range

Between 197.55 support and 198.90 resistance.

Platinum Price Analysis

Expected Scenario

• The platinum price repeated attempts to breach the $1081.00 barrier, reacting to stochastic positivity and forming a new bullish wave to touch the $1094.25 level, confirming its preparation to resume the bullish attack in the near and medium-term period.
• It is important to hold above the additional support at $1040.004 to ease the mission of confirming breaching the mentioned barrier and start targeting new positive stations that might extend towards $1105.00 and $1128.00.

Expected Trading Range

Between $1065.00 support and $1105.00 resistance.

Copper Price Analysis

Expected Scenario

• The copper price trades extended bullishly to slightly jump above the historical target mentioned in our previous report at $5.1900, followed by bouncing below $5.1600 as appears on the chart.
• Stochastic reach to the overbought areas might force the price to provide sideways trades, noting that forming solid obstacle at $5.1600 against the bullish attempts might assist to activate the correctional bearish track, to target $4.9000 before reaching any new positive target.

Expected Trading Range

Between $5.1700 support and $5.0000 resistance.