The USD/JPY under the negative pressure – Analysis – 04/05/2021

jpyThe USDJPY pair faced clear negative pressure yesterday to break 109.22 level and settle at the intraday bullish channel’s support line that appears on the chart, accompanied by stochastic reach to the oversold areas, while the EMA50 provides the positive support to the price.

Therefore, we believe that the chances valid to resume yesterday’s suggested bullish trend, which depends on the price stability above 108.80, while our next main target is located at 110.00.

The expected trading range for today is between 108.60 support and 109.80 resistance

The expected trend for today: Bullish

Origin: Economies

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