Expected Scenarios and Trading Range
Scenario 1: Bullish Attack
- EURJPY pair utilizes stability of the main bullish channel’s support line at 164.10 to initiate a bullish attack, rallying strongly towards 166.40.
- Successful achievement of previously awaited major targets.
Scenario 2: Sideways Trades
- Stochastic indicators exit from overbought areas might lead to formation of sideways trades.
- Testing of MA55 at 165.65 anticipated, followed by waiting for additional positive momentum.
- Mission to jump above 166.65 level and reach further stations at 166.90 and 167.30.
Trading Range
Expected range for today: 165.75 - 166.90
Trend forecast: Bullish