Category: Forex News, News

The USDJPY price touches the first correctional level – Forecast today

The USDJPY price provided additional negative trades yesterday to touch 38.2% Fibonacci correction level for the rise measured from 148.64 to 158.87, and the price needs to confirm the continuation of the decline and achieve additional bearish correction that its next target reaches 153.75.

 

Until now, the bearish trend still suggested for the upcoming period, supported by the negative pressure formed by the EMA50, reminding you that breaching 156.45 will stop the correctional bearish scenario to push the price to return to the main bullish track again.

 

The expected trading range for today is between 154.50 support and 156.10 resistance

 

Trend forecast: Bearish



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