The EURJPY moves slowly – Analysis – 8-11-2023
2023-11-08 05:44AM UTC

The EURJPY pair provided slow trades yesterday to settle near 160.90 and keep its main consolidation within the minor bullish channel by moving away from 160.70 support line, while stochastic attempt to crawl towards the overbought areas will increase the chances of gaining the positive momentum and allows us to wait to target the positive stations near 161.30 and 161.70.


On the other hand, the return to the bearish track requires forming strong negative waves to settle below 160.50 level followed by starting to target many negative stations by moving towards 160.15 first, followed by 159.70.



The expected trading range for today is between 160.75 and 161.70


The expected trend for today: Bullish

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