The price of (EURUSD) extended its gains in its recent intraday trading, reaching our morning target and attacking the key resistance at 1.1420, supported by its trading above its EMA50, with its trading alongside a minor bullish trend line on the short-term basis.

Besides the emergence of the positive signals on the (RSI), despite reaching overbought levels, which might decelerate the rise of the price in its upcoming trading, due to its neediness to offload some of the overbought levels.

The coffee price surpassed the initial negative target by reaching below the moving average 55 at 359.70, announcing its surrender to the bearish correctional scenario by approaching from the next main target at 337.25.

Note that the continuation of providing negative momentum by the main indicators might increase the chances for breaking 337.25 level, to expect targeting 38.2%Fibonacci correction level at 327.50, to confirm the importance of monitoring the price behavior to detect the expected trend for the upcoming trading. 

The expected trading range for today is between 327.50 and 355.00

Trend forecast: Bearish

The EURJPY pair announced its readiness to activate the bearish correctional track by providing some negative trading by reaching below 163.35 level, stochastic exit from the overbought level might increase the negative pressure on the price, to keep preferring the bearish correctional bias domination, which might target 162.40 level reaching the support at 161.85.

Note that the chance of regaining the bullish bias remains valid, depending on forming several bullish waves that allows it to surpass 163.85 level, and holding above it to ease the mission of achieving several gains that begin at 164.85.

The expected trading range for today is between 162.40 and 163.55

Trend forecast: Bearish

The GBPJPY pair repeated providing negative closes below the broken extra support at 194.20 level, to confirm its surrender to the bearish correctional scenario, approaching from the initial target at 193.10.

The continuation of providing negative momentum will force the price to suffer extra losses that might extend towards 192.20 to face the moving average 55, while regaining the bullish bias requires forming a strong bullish wave, to succeed to step above 194.60 level, then attempts to press on 23.6% Fibonacci correction level near 195.75.

The expected trading range for today is between 192.20 and 194.20

Trend forecast: Bearish