The USDJPY pair is testing the EMA50 that forms intraday resistance at 122.70, and the price needs to breach this level to reinforce the expectations of resuming the main bearish trend, which was stopped for some temporary bearish correction that appears on image.
Therefore, our bullish overview still valid supported by stochastic positivity, reminding you that our first main target is located at 123.74, while achieving it conditions holding above 122.40.
Expected trading range for today is between 121.60 support and 123.74 resistance.
Expected trend for today: Bullish