The USDJPY pair succeeded to achieve our first waited target at 146.80 and attempted to break it, and by taking a deeper look at the chart, we find that the price completed forming double top pattern that supports the chances of achieving more bearish correction on the intraday basis, and the way is open to head towards 145.50 as a next negative target.
Today’s negative start supports the expectations to decline in the upcoming sessions, to continue suggesting the bearish trend conditioned by the price stability below 146.80, as breaching this level represents initial positive factor that will lead the price to start recovery attempts and regain the main bullish trend again.
The expected trading range for today is between 145.60 support and 147.20 resistance
The expected trend for today: Bearish
Origin: Economies
