The EURJPY pair confirmed its surrender to the domination of the bullish bias by settling above 164.30 additional support, in addition to the major indicators attempt to provide the positive momentum, to keep its consolidation near 165.80.

We expect to activate the bullish rally again, to target 166.50 level, while continuing the positive pressures might extend trades towards 38.2% Fibonacci correction level at 166.90, which forms the key to detect the next medium-term trend.

The expected trading range for today is between 164.80 and 166.50

Trend forecast: Bullish