The USDJPY pair continued to decline strongly yesterday to succeed achieving our extended negative targets, reaching 131.20, showing some bullish bias affected by stochastic current positivity, while we suggest the continuation of the overall negative pressure in the upcoming sessions to head towards the bearish channel’s support line that reaches 128.00 areas.
Therefore, the bearish trend scenario will remain valid on the intraday and short term basis, supported by the EMA50, noting that holding below 133.60 is important to continue the suggested decline.
The expected trading range for today is between 130.90 support and 133.00 resistance
The expected trend for today: Bearish
Origin: Economies
