The EURJPY achieves the second target – Forecast today – 26-4-2024

EURJPY Price Analysis

Expected Scenario

• The EURJPY pair formed new bullish rally yesterday, taking advantage of the positive momentum caused by stochastic consolidation within the overbought areas, to notice touching the second target mentioned in our previous report at 167.52.
• The price might provide mixed trades due to 167.52 level forming key barrier, in addition to stochastic attempt to exit the overbought areas, to increase the chances of activating the correctional bearish track and reach 166.85 level soon, while succeeding to breach the barrier and holding above it will allow the price to provide more bullish attempts, waiting to record new gains that might start at 167.90 and 168.40.

Expected Trading Range

Between 166.90 and 167.55