The USDJPY pair continues to fluctuate near the EMA50 after it remained stable above 23.6% Fibonacci correction level that located at 122.40, pointing that stochastic negativity causes sideways fluctuation now, waiting for getting enough positive momentum to push the price to resume the main bullish trend.
Therefore, the bullish trend remains preferred on the intraday and short term basis if the price settled above 122.40, reminding you that the main targets begin at 123.74 and extend to 125.85.
Expected trading range for today is between 121.60 support and 123.74 resistance.
Expected trend for today: Bullish