The EURJPY lacks the positive momentum – Forecast today – 15-5-2024

EURJPY Price Analysis

Expected Scenario

• The EURJPY pair ended the recent positive rally by touching 169.40 level, to form additional barrier against the attempt to resume the bullish attack and form temporary negative rebound towards 169.00, noting that stochastic exit from the overbought areas will force the price to provide some correctional negative trades, waiting to target 168.65 followed by reaching the first additional support at 168.10.
• On the other hand, succeeding to gather the additional positive momentum and breaching the barrier will cancel the correctional overview and start new bullish waves in order to achieve new gains that might extend towards 169.75 and 170.40.

Expected Trading Range

Between 169.40 and 168.60