The USDJPY achieves some bearish correction – Analysis - 16-06-2022
The USDJPY pair faced negative pressure yesterday to break the bullish channel’s support line and achieve some bearish correction, as it touched 23.6% Fibonacci correction level for the rise measured from 126.67 to 135.58 and bounced bullishly from there, to hint heading to regain the main bullish trend again, waiting to surpass 135.00 to confirm the continuation of the main bullish wave.
Therefore, we expect to witness positive trades in the upcoming sessions, and the next main target reaches 136.00, noting that breaking 133.50 will force the price to achieve more bearish correction that its next target located at 132.20.
The expected trading range for today is between 133.80 support and 135.30 resistance
The expected trend for today: Bullish
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