The USDJPY pair succeeded to reach 38.2% Fibonacci correction level at 146.17 and settles near it, falling under negative pressure formed by the EMA50, which supports the chances of surpassing this level to achieve additional bearish correction that its next target reaches 144.47.
Therefore, we will continue to suggest the bearish trend for the upcoming period, taking into consideration that breaching 147.20 will stop the expected decline and lead the price to achieve intraday gains that start by testing 148.30.
The expected trading range for today is between 145.70 support and 147.20 resistance
The expected trend for today: Bearish
Origin: Economies