The EURJPY pair is forced to form bearish correction wave after hitting the target at 174.45, affected by stochastic attempt to exit the overbought level, noticing its fluctuation near the breached barrier, forming an extra support at 173.40.

The price success to settle above the current support will provide new chance for forming bullish waves, repeating the pressure on 174.40 level, and surpassing it will make it reach the next target near 175.20, while its surrender to the negative pressures by its move below the support will force it to delay the bullish attack, forming more of the correctional trading, to reach 172.80 initially, reaching the support of the bullish channel at 171.35.

The expected trading range for today is between 173.40 and 175.20

Trend forecast: Bullish

The GBPJPY pair provided new negative close in Friday’s trading below 200.45 level barrier, which forces it to form some bearish correctional trading, to settle near 199.55.

By the above image, we notice stochastic reach below 50 level, to provide the extra negative momentum, to confirm the dominance of the bearish correctional bias, which makes us keep the bearish suggestion until reaching the negative station near 198.60 and 197.80.

The expected trading range for today is between 198.60 and 200.40

Trend forecast: Bearish

Platinum price benefited from the positive pressure that comes from its repeated positive stability above the moving average 55 besides forming extra support at $1355.00, activating the bullish attack by surpassing $1400.00 level and holding near $1412.00, achieving some suggested gains.

Note that the continuation of stochastic fluctuation near 80 level will increase the chances for gathering the required extra positive momentum for resuming the bullish attempts until reaching extra stations near $1422.00 and $1435.00.

The expected trading range for today is between $1390.00 and $1422.00

Trend forecast: Bullish

Despite the weakness of copper price’s last trading, its stability above the moving average 55 and its stability within the bullish channel’s levels support the chances of activating the suggested bullish attack.

The stability of the extra support at $4,2600 is important for the continuation of providing positive momentum by stochastic, which will motivate surpassing $4.6200 obstacle, to extend the trading towards the next target near $4.7500, reaching $4.9500 in the medium period trading. 

The expected trading range for today is between $4.5000 and $4.7500

Trend forecast: Bullish