The USDJPY awaits confirmation signal – Analysis - 05-08-2022
The USDJPY pair attempted to break 133.05 support line but it couldn’t manage to hold below it, to show positive attempts supported by stochastic positivity, and it might head to test 134.50 resistance in the upcoming sessions.
Until now, our neutrality still valid until the price manages to breach one of the above mentioned levels followed by detecting its next destination clearly, reminding you that breaking the support will press on the price to achieve additional bearish correction that targets 131.55 as a first station, while breaching the resistance represents the key to attempt to regain the main bullish trend and achieve gains that start at 136.40.
The expected trading range for today is between 132.40 support and 134.00 resistance
The expected trend for today: Neutral
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