Coffee price continued forming strong negative trading, to face 50%Fibonacci correctional level, which forms a strong support at 292.85, then bounces quickly towards 302.05 as appears in the above image.

We expect forming some mixed trading, but its repeated stability above the current support will  reinforce the chances for gathering the positive momentum and begin recovering the losses by targeting 313.60 level, reaching the barrier at 327.05.

The expected trading range for today is between 395.00 and 313.60

Trend forecast: Bullish

Natural gas prices succeeded in activating the suggested bullish track by its rally above $3.600, achieving the initial target at $3.740, which forces it to provide some sideways trading, to gather extra positive momentum.

Stochastic surpass to 50 level and the attempt of the price stability above the moving average 55, these factors makes us keep the bullish scenario, which might target $3.830 level reaching the extra resistance at $3.950.

The expected trading range for today is between $3.610 and $3.830

Trend forecast: Bullish

The EURJPY pair provided a new negative close below the achieved top at 169.80 level, affected by stochastic exit from the overbought level, attempting to activate the bearish correctional track by reaching 168.85.

The continuation of facing the negative pressure will confirm its surrender to the bearish correctional track, which might target 168.05 and 167.55 level, while renewing the bullish attack requires forming a strong bullish rally that allows it to breach the bullish channel’s resistance at 170.40.

The expected trading range for today is between 168.05 and 169.60

Trend forecast: Bearish

The GBPJPY pair confirmed its surrender to the suggested bearish correctional scenario, by its repeated stability below 66.8%Fibonacci correction level at 198.80, to approach from the initial correctional target at 197.40.

Note that stochastic exit from the overbought level will increase the negative pressure on the current period trading, to expect reaching towards 196.90, and surpassing this level might extend the losses towards 196.25 reaching 195.80.

The expected trading range for today is between 196.25 and 198.20

Trend forecast: Bearish