📊TECHNICAL ANALYSIS ON 4-HOURS TIMEFRAME
The EURJPY pair formed new bullish wave yesterday, to move away from 157.00 support line and notice recording the first positive target at 158.35 and settling below it, noting that stochastic approach to 80 level will provide the price with new positive momentum, allowing us to keep the bullish overview and target 159.35 resistance line, followed by monitoring its behavior to manage to detect the next main trend. The expected trading range for today is between 157.70 and 159.00
📊QUICK FUNDAMENTAL LOOK
Euro rose in European trade against a basket of major rivals, moving in a positive zone against the dollar, holding above one-week lows. Euro remains under negative pressure due to renewed concerns about the interest rate gap between Europe and the US, with very weak prospects of another interest rate hike by the ECB.
⚠️Warning: Trading contains elements of risk, please be careful when Making Orders, Market Recommendations are only for consideration.