The EURJPY pair neediness to the continuous positive momentum led to provide new mixed trading, to settle near 162.00 level, waiting for a new signal for confirming the expect trend for the upcoming trading, the continuation of forming extra support for the moving average 55 at 161.40, while 163.25 level remains forming a strong obstacle against the attempts of regaining the bullish bias, we expect resuming forming sideways trading between the current main levels.

Note that the chances for activating the negative scenario increase gradually now, due to stochastic decline below 50 level and providing negative momentum, to expect breaking the extra support and suffering several losses by reaching 160.65 and 159.80.

The expected trading range for today is between 160.65 and 162.50

Trend forecast: Bearish

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