The USDJPY pair succeeded to achieve our extended negative target at 131.55 and broke it by today’s open to open the way to suffer more losses, targeting 129.70 level as a next negative station.
Therefore, we expect to witness more decline in the upcoming sessions, supported by the negative pressure formed by the EMA50, noting that breaching 131.55 represents initial condition to stop the current negative pressure and attempt to regain the main bullish trend again.
The expected trading range for today is between 129.90 support and 131.50 resistance
The expected trend for today: Bearish
Origin: Economies
