The EURJPY still bullish – Analysis – 17-11-2023

Despite the EURJPY pair’s lack of the positive momentum and forming correctional bearish wave recently, the main stability within the bullish channel and consolidating above the additional support at 163.00 allow us to keep the bullish overview for the near-term and medium-term trades, to expect targeting 163.95 followed by reaching the next main target at 164.90.

We notice stochastic approach to 20 level to confirm getting rid of the temporary negative pressures, to provide chances to gather the additional positive momentum and ease the mission of reaching the mentioned positive targets.

The expected trading range for today is between 163.25 and 163.95

The expected trend for today: Bullish