The USDJPY approaches the recent high – Analysis - 14-09-2023

The USDJPY pair continued to rise yesterday to approach the recently recorded high at 147.86, noticing that the price was affected by stochastic negativity to show some bearish bias, approaching the bullish channel’s support line, noticing that the indicator gets rid of its negative momentum clearly to approach the oversold areas, which supports the chances of bouncing bullishly and resume the bullish trend again.

Therefore, the bullish trend scenario will remain valid and active unless breaking 146.35 level, reminding you that our next main target reaches 149.00.

The expected trading range for today is between 146.50 support and 148.00 resistance

The expected trend for today: Bullish