The EURJPY pair touched 159.95 level yesterday followed by starting to form correctional bullish rebound, affected by stochastic exit from the oversold areas, to notice targeting the broken additional support at 160.20.

This positive rebound won’t form any threat to the main bearish track by settling below 161.65 barrier frequently, to keep waiting to gather the additional negative momentum and manage to renew the negative attempts to reach 159.10 and 158.35 levels soon.

The expected trading range for today is between 159.10 and 160.80

Trend forecast: Bearish

The GBPJPY pair succeeded to end the negative trades by approaching 189.75 support line yesterday, which forms 61.8% Fibonacci correction level to form strong bullish waves and cover many recent losses to settle near 192.70.

Resuming the bullish attempts requires surpassing 50% Fibonacci correction level at 193.30 to open the way to target new positive stations that might extend towards 194.10 followed by attempting to surpass 194.75 obstacle.

The expected trading range for today is between 192.00 and 193.85

Trend forecast: Sideways

Platinum price approached the MA55 yesterday at 955.00$, affected by the frequent stability below 983.00$ barrier that formed solid obstacle against the attempts to resume the bullish attack recently.

We expect to witness mixed trades now, noting that stochastic attempt to provide the negative momentum might push the price to suffer additional losses by crawling towards 940.00$, while succeeding to surpass the barrier and holding above it will reinforce the chances of renewing the bullish attack, to target 1005.00$ as a next station.

The expected trading range for today is between 940.00$ and 983.00$

Trend forecast: Bearish

Copper price succeeded to get rid of the negative pressures by facing 4.1500$ support line, to motivate it to activate the bullish trades again by surpassing the MA55 and settling near 4.3300$ barrier again.

We recommend to wait to breach the current barrier and getting positive close above it to confirm its preparation to resume the bullish attempts that might target 4.4400$ followed by reaching 50% Fibonacci correction level at 4.5400$.

The expected trading range for today is between 4.0200$ and 4.2700$

Trend forecast: Bearish