The EURJPY attempts to regain the bullish bias – Forecast today – 4-4-2024

Trading Analysis: EURJPY Pair

The EURJPY pair faced strong positive pressures yesterday, caused by stochastic rally towards the overbought areas, forcing the price to form many bullish waves to settle above the broker support of the bullish channel at 164.20.

The upcoming scenario depends on the next close for the current trades. Succeeding to hold above the current support will confirm regaining the bullish bias, expecting its preparation to record big gains that might extend towards 165.10 and 165.80 levels. Failing to hold above the support will increase the chances of activating the negative track, suffering many losses that might start at 163.70 and 163.20.

The expected trading range for today is between 164.10 and 165.10

Trend Forecast

Bullish