The EURJPY touches the first target – Forecast today – 26-3-2024

EURJPY Pair Analysis: Recent Developments and Forecast

The EURJPY pair has capitalized on positive factors, notably the consistent stability above the support line within the bullish channel at 163.55. Additionally, major indicators have contributed to the positive momentum, resulting in the formation of a new bullish wave that successfully achieved the initial target at 164.25.

To validate the optimism for future trades, it is advisable to await a breakthrough of the current barrier at 164.25, accompanied by a positive close above it. This action would pave the way for a resumption of the bullish trend, potentially targeting the 164.80 level initially, with further aspirations to reach the recently recorded high at 165.33.

Trading Range Projection

• Upper Bound: 164.80
• Lower Bound: 163.80

Trend Forecast

Bullish