The USDJPY price faced new negative pressure yesterday, as it broke 154.96 and approached 153.75 level, but it returns to trade above the first level, and we expect to witness sideways trades between 153.75 support and 156.45 resistance in the upcoming sessions, and the price needs to surpass one of these levels to detect its next destination clearly.

 

Therefore, the sideways bias will be dominant on the intraday basis, noting that breaching the mentioned resistance will lead the price to resume the main bullish trend and achieve new gains that reach 158.00 followed by 158.87 levels, while breaking the support will push the price to achieve additional bearish correction that targets 152.55 as a next negative station.

 

The expected trading range for today is between 154.00 support and 156.10 resistance

 

Trend forecast: Sideways