The EURJPY pair approached the bearish channel’s resistance line yesterday at 162.40, to record the previously suggested targets followed by turning back to activate the negative trades by moving towards the MA55 near 160.85.

The stability of the resistance line and stochastic attempt to provide the negative momentum allow us to expect the beginning of providing negative trades, to expect targeting 160.00 followed by 159.30 levels soon, while succeeding to breach the resistance and holding above it will confirm moving to the bullish track to target 162.70 and 163.25 levels direct.

The expected trading range for today is between 160.00 and 162.00

Trend forecast: Bearish

The GBPJPY pair formed strong bullish rally yesterday, to approach the previously targeted barrier at 193.25, forcing it to postpone the bullish attempts and form new negative rebound to settle near 191.60.

Note that the contradiction between the major indicators and the stability of the mentioned barrier might force the price to provide mixed trades, with chances to decline towards 190.60 soon, followed by attempting to renew the bullish attempts and repeat the pressure on the barrier in order to find a way to resume the bullish attack in the upcoming period to target 193.80 and 194.40 levels.

The expected trading range for today is between 190.60 and 192.70

Trend forecast: Bullish

Platinum price touched 990.00$ level during the last bullish rally and formed some sideways trades by fluctuating near 983.00$ level that formed an obstacle against the bullish attempts recently.

We notice stochastic attempt to crawl towards the overbought areas to increase the chances of gaining the additional positive momentum to manage to resume the bullish attack, waiting to target 998.00$ level soon, followed by reaching the next target at 1012.00$, assuring the importance of holding above 968.00$ that forms additional support against the bullish attempts.

The expected trading range for today is between 974.00$ and 998.00$

Trend forecast: Bullish

Copper price provided some trades above 4.8100$ barrier and returned to settle below it, forming some sideways waves, noting that providing continuous positive momentum by the major indicators and the frequent stability above the additional support at 4.6800$ allow us to wait to confirm the breach to ease the mission of targeting the additional positive stations near 4.8900$ followed by reaching 5.000$ resistance line.

The expected trading range for today is between 4.7500$ and 4.8900$

Trend forecast: Bullish