The EURJPY pair ended its recent negative attack by providing positive close above 157.90 level, to form new support against the negative attempts and notice activating the correctional bullish track and recording clear gains by rallying towards 161.42, approaching 61.8% Fibonacci correction level at 161.65.

We expect to witness instability due to the contradiction between the technical indicators, in addition to the importance of 161.65 barrier to determine the next near-term and medium-term trades, as holding below this barrier will increase the chances of forming new negative waves, to target 160.10 and 158.50 levels, while surpassing the barrier will open the way to resume the bullish correction, to target 162.75 as a next positive station.

The expected trading range for today is between 161.65 and 158.50

Trend forecast: Bearish

The GBPJPY pair activated the correctional bullish track by providing positive close above 183.00, taking advantage stochastic exit from the oversold areas, to notice rallying towards the additional resistance at 188.00.

We expect the continuous fluctuation below the mentioned resistance to start forming new bearish waves and attempt to target the negative stations again by crawling towards 186.25 first, followed by reaching 185.10, while breaching the resistance and closing positively above it will increase the chances of achieving additional gains that might extend towards 190.35, which forms key barrier against the negative trades.

The expected trading range for today is between 188.00 and 185.15

Trend forecast: Bearish

Platinum price was affected by stochastic reach to the oversold areas, to postpone the negative attack by fluctuating above 23.6% Fibonacci correction level at 906.00$ and notice achieving some gains by reaching 921.00$.

On the other hand, the frequent stability below the major resistance at 933.00$ allows us to keep the bearish overview, to keep waiting to gather the negative momentum again and manage to break 906.00$ followed by starting to target the additional negative stations by crawling towards 880.00$ first, followed by reaching 857.00$ on the medium-term basis.

The expected trading range for today is between 927.00$ and 880.00$

Trend forecast: Bearish

Despite facing frequent negative pressures recently, copper price stability above 3.9200$ support line until this moment assists to activate the correctional bullish track again.

We assure the importance of surpassing 4.0250$ level to open the way to form new bullish waves, to expect targeting 4.1500$ level first, while surpassing it will push the price towards 4.2800$ as a next main target for the correctional trades.

The expected trading range for today is between 3.9500$ and 4.1500$

Trend forecast: Bullish