The USDJPY achieves additional bearish correction – Analysis - 17-06-2022
The USDJPY pair opened today with strong decline to break 133.50 and reach the thresholds of 50% Fibonacci correction level for the last bullish wave that appears on the chart, but we notice that the price recovers quickly to settle above 133.50 level again, which keeps the bullish trend scenario active for the upcoming period, waiting to visit 135.50 followed by 136.00 levels mainly.
Stochastic provides positive signals that support the expected rise, which will remain valid conditioned by the price stability above 133.50.
The expected trading range for today is between 133.30 support and 134.70 resistance
The expected trend for today: Bullish