The USDJPY price bounced bearishly after approaching 159.00 barrier, to press on the bullish channel’s support line and move below it, but we notice that the EMA50 attempts to stop the negative pressure to support the chances of recovering again.
Therefore, we will keep our overall bullish overview, and the price needs to trade above 158.05 to reinforce the chances of heading towards 160.00 that represents our next main target, noting that breaking 157.35 will stop the bullish wave and push the price to start bearish correction on the intraday basis.
The expected trading range for today is between 156.90 support and 158.45 resistance
Trend forecast: Bullish
