The USDJPY price attempts to breach – Forecast today - 23-04-2024

USDJPY Price Analysis

Expected Scenario

• The USDJPY price encounters strong resistance at the 154.78 level and continues to fluctuate around it, attempting to breach it to target the next main resistance at 156.00.
• The bullish trend scenario remains active on both intraday and short-term bases, delineated within a bullish channel on the chart.
• However, breaking below the rising support line, currently around 154.00, would exert negative pressure on the price, targeting testing 152.80 areas before any new attempt to rise.

Expected Trading Range

Between the support at 154.00 and the resistance at 155.60