The EURJPY achieves the first target – Forecast today – 1-5-2024
Economies.com
2024-05-01 05:26AM UTC
Scenarios and Trading Range
Expected Scenarios
- EURJPY pair took advantage of frequent consolidation within the bullish channel.
- Leaning above the additional support at 167.40.
New positive rally formed, achieving the first waited target mentioned in the previous report.
Stochastic exit from overbought areas might result in mixed sideways trades until gathering required additional positive momentum to resume the rise.
Continued gains expected by moving towards 168.90 followed by reaching the bullish channel’s resistance at 169.45.
Trading Range
The expected trading range for today is between 167.75 and 168.90.
Trend Forecast
Bullish
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