The EURJPY continues to postpone the decline – Forecast today – 14-3-2024

The EURJPY pair still affected by the contradiction between the major indicators, to continue postponing the negative attack and form clear positive rebound towards 161.88 to face the MA55, noting that it is important to monitor the price behavior when reaching 162.10 obstacle, due to its importance to detect the near-term and medium-term trend.

The negative stability below 162.10 will increase the chances of activating the negative track again, to expect targeting 161.35 and 160.85 initially, while breaching the obstacle and holding above it will allow the price to form new positive waves to target 162.30 followed by reaching the key resistance 162.75.

The expected trading range for today is between 162.15 and 161.65

Trend forecast: Bearish