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The USDJPY price managed to achieve our waited target at 153.75 and settles there, which represents 50% Fibonacci correction level for the rise from 148.64 to 158.87, which means that breaking this level will extend the correctional bearish wave to reach 152.55 direct.
The EMA50 forms continuous negative pressure against the price to support the chances of continuing the bearish trend in the upcoming period, reminding you that the continuation of the bearish wave requires holding below 154.96.
The expected trading range for today is between 153.40 support and 154.90 resistance
Trend forecast: Bearish
