The EURJPY needs new momentum – Analysis – 16-11-2023
2023-11-16 05:41AM UTC

The EURJPY pair approached the additional positive target at 164.25 yesterday, to settle below it, affected by stochastic attempt to exit the overbought areas, which might postpone the attempts to resume the bullish attack for now.


On the other hand, the main stability within the bullish channel and settling above the additional support 162.95 allow us to wait to gather the required additional positive momentum to renew the positivity in order to reach the bullish channel’s resistance at 164.65, followed by monitoring its behavior to manage to detect the next targets.



The expected trading range for today is between 163.50 and 164.70


The expected trend for today: Bullish

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