The USDJPY price opens today’s trading with clear negativity to break 154.96 level and settle below it, to activate the bearish correction scenario and head towards achieving negative targets that start at 153.75, noting that breaking this level will push the price to visit 61.8% Fibonacci correction level at 152.55.

 

Therefore, the bearish bias will be suggested for today, taking into consideration that breaching 154.96 and holding above it will stop the expected decline and lead the price to start recovery attempts on the intraday and short-term basis.

 

The expected trading range for today is between 153.60 support and 155.00 resistance

 

Trend forecast: Bearish