The EURJPY fails to regain the bullish bias – Forecast today – 5-4-2024
Economies.com
2024-04-05 08:21AM UTC
EURJPY Pair Analysis
Expected Scenario
- The EURJPY pair returned to provide negative trades by crawling below the bullish channel’s support line at 164.55.
- This canceled the chances of regaining the bullish bias, with losses observed as it crawled towards 163.50.
Expected Outcome
Currently, there's a contradiction between the major indicators, suggesting mixed sideways trades until gathering additional negative momentum.
Expect a crawl below the MA55 at 163.30, followed by targeting negative stations starting at 162.75 and reaching 162.20 in the medium-term period.
Expected Trading Range
Between 164.30 support and 163.30 resistance.
Trend Forecast: Bearish
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