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The USDJPY achieves strong gains – Analysis - 01-05-2023
The USDJPY pair soared on last Friday to surpass our waited target at 135.65 and opens the way to visit the extended target at 137.70, as it begins today with additional rise to surpass the bullish channel’s resistance, reinforcing the chances of continuing the bullish trend in the upcoming sessions.
Therefore, the bullish trend will remain dominant, and breaching the targeted level will push the price to continue the bullish trend on the longer term basis, noting that holding above 135.60 is important to continue the bullish wave, as breaking it will press on the price to achieve bearish correction that might target testing 134.60 areas before any new attempt to rise.
The expected trading range for today is between 136.00 support and 137.70 resistance
The expected trend for today: Bullish
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