The USD/JPY consolidates positively – Analysis – 11/05/2022

jpy_1_newsThe USDJPY pair hovers around 130.25 level and attempts to consolidate above it, to keep the bullish trend scenario valid and active for the upcoming period, supported by the EMA50, noting that our targets begin at 131.25 and extend to 132.00.

On the other hand, we should note that failing to hold above 130.25 will press on the price to achieve new bearish correction that its targets begin by testing 129.60.

The expected trading range for today is between 129.80 support and 131.10 resistance

Origin: Economies

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