The EURJPY pair has triggered a bearish corrective move after hitting additional support at 177.05. As shown in the chart, the pair faced some losses after testing the 176.50 level, resulting in mixed trading as it stabilizes around 176.35.
The price’s continued fluctuation below the broken support, coupled with the negative momentum indicated by the stochastic oscillator, increases the likelihood of further downside corrective movements. These could potentially target the 175.15 level, with the next support near the bullish channel at 174.45.
The expected trading range for today is between 175.15 and 176.65.
Trend Outlook: Bearish, contingent on stability below 177.05.”
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