Despite the weakness of the EURJPY pair last trading, its stability within the bullish channel’s levels and the continuation of forming extra support at 175.25 level supports our bullish suggestion in the near trading, to keep waiting for targeting 177.05 level reaching the top at 177.85.

Note that reaching below the current support and providing negative close will force it to activate the bearish corrective track, reaching 174.15 initially, and breaking this level will force it to decline towards 173.40, approaching the support of the main bullish channel.

The expected trading range for today is between 175.25 and 177.05

Trend forecast: Bullish

The GBPJPY pair began receiving the bullish momentum by stochastic exit from the oversold level, keeping its stability above the extra support at 201.70 as appears in the above image.

We expect the trading rally towards 203.10 level, forming the initial target of the bullish track then attempt to reach the extra barrier at 203.95, while the price decline below the current support will confirm delaying the bullish track, which forces it to suffer intraday losses by reaching 201.10 and 200.45.

The expected trading range for today is between 201.70 and 203.10

Trend forecast: Bullish

Platinum price reached $1557.00 level in its last corrective decline, then rallies again to settle above the extra support level at $1605.00, but this will not confirm its readiness to activate the bullish track again, due to its fluctuation below the resistance at $1695.00.

The continuation of providing negative momentum by stochastic will increase the efficiency of the bearish corrective track, to expect reaching $1575.00 and facing extra pressure might force it to target $1525.00 level, which forms an extra support against the current trading.

The expected trading range for today is between $1575.00 and $1670.00

Trend forecast: Bearish

Despite the stability of copper price trading within the bullish channel’s levels, the continuation of the main indicators’ contradiction forces it to provide more of the sideways trading by its continuous trading near $4.9800.

Note that the stability of the trading above the extra support at $4.7500 is important for increasing the chances for gathering extra positive momentum to ease the mission of surpassing the obstacle at $5.0600, then begin targeting positive stations by its rally towards $5.2000 and $5.3200. 

The expected trading range for today is between $4.7500 and $5.0600

Trend forecast: Sideways