Despite the neediness of the EURJPY pair to positive momentum since yesterday, its positive stability above 171.75 confirms the stability of the bullish track, to increase the chances of reaching the initial main target at 173.40 and surpassing it will reinforce the chances for recording extra gains that might extend towards 173.85 and 174.40.

Notet that the price decline below 171.75 and providing bearish closes will increase the chances for activating the attempts of gathering the gains by forming bearish correctional waves, to expect targeting 171.10 level, reaching the support near 170.45. 

The expected trading range for today is between 172.00 and 173.80

Trend forecast: Bullish

The GBPJPY pair lost the positive momentum by stochastic fluctuation near 50 level, which forces it to delay the bullish rally and forming intraday bearish wave, to test the extra support near 197.90 then begin this morning trading with a new positive action, due to its fluctuation near the barrier at 198.80.

We recommend waiting for confirming breaching the current obstacle to confirm its readiness to renew the bullish attempts, which might target 200.35 level, while the failure to breach might help renewing the bearish correctional attempts, forcing it to suffer some losses by reaching 197.45, then attempting to press on the bullish channel’s support at 197.15.

The expected trading range for today is between 198.00 and 200.35

Trend forecast: Bullish

Platinum price succeeded in renewing the bullish attempts, taking advantage of the stability above the extra support level near $1366.00, reaching the target at $1420.00 and facing 2.618%Fibonacci extended level.

The price might be forced to form some sideways trading until confirming breaching the $1420.00 level, to reinforce the chances for targeting new positive stations that might extend to $1457.00 reaching the next main target at $1507.00.

The expected trading range for today is between $1400.00 and $1457.00

Trend forecast: Bullish

No news for copper price, it remains confined between $5.3200 support and $5.5100 level which represents an extra barrier against the bullish attempts, and the contradiction between the main indicators confirming delaying the bullish attempts, to recommend neutrality and wait for surpassing these levels to detect the expected targets in the near trading.

Trading success in surpassing the barrier and holding above it will reinforce the dominance of the bullish bias, which might target $5.6700, while breaking the support will force it to form bearish correctional waves, to expect reaching $5.1500 and $4.9800.

The expected trading range for today is between $5.3100 and $5.5100

Trend forecast: Neutral