The EURJPY pair approached the second target at 161.65, while the negative momentum that the major indicators started to provide by the MA55 that forms additional barrier at 160.90 and stochastic attempt to exit the overbought areas pushed the price to activate the correctional decline to settle near 159.50.

We expect to form some sideways trades to attempt to hold above the additional support at 158.85, while gathering the additional positive momentum will push the price to start forming bullish waves to target 160.20 soon, followed by attempting to confirm breaching the MA55 to ease the mission of recording new gains on the near-term and medium term basis.

The expected trading range for today is between 159.00 and 161.20

Trend forecast: Bullish

The GBPJPY pair failed to surpass the MA55 that formed solid barrier by settling at 192.60, to form strong negative rebound and approach the initial support at 189.75.

The suggested scenario on the near-term basis depends on the strength of the current support line, as its stability allows us to expect renewing the bullish attempts in order to reach 191.00 followed by reaching the next target at 193.25, while crawling below the support and providing negative close below it will push it back to the negative track, to suffer many losses by moving towards 188.65.

The expected trading range for today is between 189.75 and 191.00

Trend forecast: Bullish

Despite platinum price recent weak trades, the frequent stability above 950.00$ support line and the MA55 attempt to form the additional support by settling near 960.00$ confirm the continuation of the positivity for the upcoming trading.

Also, stochastic approach to 80 level will increase the chances of gaining the positive momentum, to keep our bullish overview that might target 983.00$ followed by reaching 1000.00$ resistance line.

The expected trading range for today is between 960.00$ and 983.00$

Trend forecast: Bullish

Copper price ended the last bullish rally by facing 4.8100$ resistance line, to form temporary negative rebound towards 4.7100$, while the main stability within the bullish channel and forming continuous additional support at 4.5400$ will increase the chances of activating the bullish track on the near-term basis.

We assure the importance of gathering the additional positive momentum to manage to surpass the current resistance and open the way to record additional gains that might extend towards 4.8800$ followed by reaching the bullish channel’s resistance line near 4.9600$.

The expected trading range for today is between 4.6500$ and 4.9100$

Trend forecast: Bullish