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

The GBPJPY pair ended the last bullish rally by reaching 188.28 level, affected by stochastic exit from the overbought areas, forming correctional bearish rebound towards 187.30, while in general, this rebound won’t form any threat to the bullish track due to the frequent stability within the bullish channel, in addition to forming additional support at 186.70 against the current trades.

These factors allow us to wait to gather the additional positive momentum to ease the mission of targeting 188.80 extended resistance, followed by monitoring the price behavior to manage to detect the next expected trend, while crawling below the additional support will activate the correctional bearish track that might target 186.25 and 185.80 levels initially.

The expected trading range for today is between 187.00 and 186.20

The expected trend for today: Bullish

Platinum price surrendered to the positive pressures caused by stochastic approach to the overbought areas, to notice attacking the bearish channel’s resistance at 896.00 by touching 903.00 level and bouncing below this resistance direct.

Due to the contradiction between the major indicators, we recommend to stay neutral and wait the next close to manage to confirm the next expected trend, as confirming breaching the resistance will open the way to activate the bullish attack, to target 922.00 first, while holding below the resistance will push the price back to form new negative waves and target 855.00 initially.

The expected trading range for today is between 910.00 and 885.00

The expected trend for today: Neutral

Copper price keeps its consolidation below 3.7400 barrier, affected by the negativity of the MA55, to keep its stability within the previously suggested negative track.

We remind you that it is important to gather the negative momentum to ease the mission of reaching the negative stations that start at 3.6200 followed by reaching 3.5000 support line, while facing new positive pressures might force the price to surpass the barrier, to expect targeting 3.8100 resistance before touching any new negative target.

The expected trading range for today is between 3.7100 and 3.6200

The expected trend for today: Bearish