The USDJPY pair declined strongly yesterday to surpass our first waited target at 144.47 and rallied bearishly to reach 61.8% Fibonacci correction level at 142.76, noticing that the price begins today with more decline to break this level and open the way to suffer more losses in the upcoming sessions, as the next target reaches 140.65.
Therefore, we are waiting for more expected decline on the intraday and short-term basis, supported by the EMA50 that presses negatively on the price, noting that breaching 142.76 will stop the current negative pressure and push the price to start recovery attempts on the intraday basis.
The expected trading range for today is between 140.60 support and 142.50 resistance
The expected trend for today: Bearish
Origin: Economies
