The EURJPY pair provided a new negative close below the achieved top at 169.80 level, affected by stochastic exit from the overbought level, attempting to activate the bearish correctional track by reaching 168.85.

The continuation of facing the negative pressure will confirm its surrender to the bearish correctional track, which might target 168.05 and 167.55 level, while renewing the bullish attack requires forming a strong bullish rally that allows it to breach the bullish channel’s resistance at 170.40.

The expected trading range for today is between 168.05 and 169.60

Trend forecast: Bearish

The GBPJPY pair confirmed its surrender to the suggested bearish correctional scenario, by its repeated stability below 66.8%Fibonacci correction level at 198.80, to approach from the initial correctional target at 197.40.

Note that stochastic exit from the overbought level will increase the negative pressure on the current period trading, to expect reaching towards 196.90, and surpassing this level might extend the losses towards 196.25 reaching 195.80.

The expected trading range for today is between 196.25 and 198.20

Trend forecast: Bearish

Platinum price formed a clear correctional decline, to test the minor bullish channel’s support at $1324.75, to achieve the suggested correctional target in the previous report, then begin forming bullish waves to settle near $1363.00.

The continuation of the fluctuation within the bullish channel’s levels is expected, depending on the stability of the support to expect its rally to $1382.00 and $1400.00. While breaking the support and providing a negative close will confirm its readiness to resume the bearish correctional attack, and $1302.00 level represents the extra negative target.

The expected trading range for today is between $1330,00 and $1382.00

Trend forecast: Bullish

Copper price remains stable until this moment below the barrier of $5.1000, which forms a significant liquidity drain zone that forces it to provide sideways trading, despite the attempt of the main indicators to provide positive momentum.

All that supports the chances for activating the bearish correctional track in the near trading, targeting $4.9100 and $4.8500 level, while breaching the barrier and holding above it will reinforce the positive chances again, to open the way for reaching new positive stations that might begin at $5.1900 reaching $5.3200.

The expected trading range for today is between $4.9100 and $5.1000

Trend forecast: Bearish