The EURJPY needs new momentum – Forecast today – 3-4-2024

Economies.com
2024-04-03 06:15AM UTC

Expected Scenarios:

  1. The EURJPY pair lost negative momentum yesterday.
  2. Stochastic rally towards overbought areas forced a postponement of the negative attack.
  3. Positive rebound formed towards 163.35 as seen on the chart.
  4. Main stability below 164.30 resistance and continuous additional barrier at 163.72 suggest waiting to gather negative momentum again.
  5. Renewal of previously suggested negative attack expected.
  6. Initial targets located near 162.65 and 162.15 levels.

Expected Trading Range:

  • The expected trading range for today is between 163.60 and 162.65.

Trend forecast: Bearish

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