The USD/JPY hits the target – Analysis – 13/01/2022

usd-jpyThe USDJPY pair managed to touch our waited target at 114.50 and settles there, and according to the trading rules inside the channels, the price is preparing to start bullish wave, but it faces negative pressures that might push it to break the current support and open the way to extend the negative trades on the intraday basis.

Therefore, we prefer to stay aside temporarily until the price confirms its situation according to 114.50 level, as consolidating above it will lead the price to rise again and achieve positive targets that start at 115.45 and extend to 116.50, while breaking it represents the key to continue the bearish bias and head towards 113.60 as a next negative station.

The expected trading range for today is between 113.80 support and 115.30 resistance

The expected trend for today: Neutral

Origin: Economies

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