The EURJPY tests the resistance – Analysis – 9-11-2023

The EURJPY pair renewed the positive action yesterday to notice reaching 161.72 level and test the key resistance and settles below it, while the upcoming scenario depends on the strength of the current resistance, as settling below it will push the price to start forming bearish waves, to suffer many losses that might start at 160.90 and 160.15.

On the other hand, facing new positive pressures and rallying above the resistance line will confirm regaining the main bullish bias by settling withing the bullish channel again, allowing us to target new positive stations that might extend towards 162.30.

The expected trading range for today is between 161.75 and 160.90

The expected trend for today: Bearish