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The EURJPY lacks the positive momentum – Forecast today – 7-11-2024
No news for the EURJPY pair despite its continuous consolidation within the bullish channel, affected by the contradiction of stochastic negativity to repeat the fluctuation near 165.60 without recording any new positive target.
The sideways trades might continue today until gathering the additional positive momentum to ease the mission of recording additional gains by targeting 166.40 and 167.00 levels, noting that the risks of changing the bullish trend will appear in case the price crawled below 164.30 support line, to force it to suffer big losses that might extend towards 163.55 first.
The expected trading range for today is between 165.20 and 166.40
Trend forecast: Bullish
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