The USDJPY approaches the first target – Analysis - 17-03-2023

Economies.com
2 weeks ago

The USDJPY pair provided negative trades yesterday to approach our first waited target at 131.60, and bounced bullishly to attack 133.30 level, noticing that the price begins today with slight bearish bias to attempt to consolidate below this level, which represents key condition to continue the expected bearish trend on the intraday basis.

 

Stochastic loses its positive momentum clearly to form negative motive that we expect to push the price to resume the bearish wave within the bearish channel that appears on the chart, waiting for negative trades in the upcoming sessions, our targets begin at 131.60 and extend to 130.50.

 

On the other hand, we should note that breaching 133.30 followed by 134.05 levels will stop the bearish trend and lead the price to turn to rise.

The expected trading range for today is between 132.20 support and 134.00 resistance

The expected trend for today: Bearish

Forex and Currency News

Forex News

Forex

US unemployment claims rise past estimates
2 days ago
US unemployment claims rose to 198 thousand in the week ending March 25, above estimates of 196 ...
Forex News

Forex

US economy grows less than expected in fourth quarter
2 days ago
US GDP grew 2.6% y/y in the fourth quarter of 2022, down from 3.2% in the third quarter, and ...
Forex News

Forex

Dollar plumbs week lows ahead of US growth data
2 days ago
Dollar fell in European trade against a basket of major rivals with markets considering whether the ...

Forex Technical Analysis

GBP USD Analysis

Forex

Midday update for the GBPUSD 31-03-2023
1 day ago
The GBPUSD pair tested 1.2400 barrier and bounced bearishly to trade at the intraday bullish ...
EUR USD Analysis

Forex

Midday update for the EURUSD 31-03-2023
1 day ago
The EURUSD pair shows some slight bearish bias now, affected by stochastic negativity, waiting to ...
Technical Analysis

Forex

The GBPCAD keeps the positivity – Analysis – 31-3-2023
1 day ago
The GBPCAD pair formed bullish channel recently, to notice recording many gains by touching 1.6700 ...