The USDJPY begins negatively – Analysis - 28-03-2023

The USDJPY pair traded with clear positivity yesterday and approached 132.00 barrier, but we notice that the price begins to decline by today’s open, as it rebounds bearishly from the bearish channel’s resistance that appears on the chart, which leads the price to achieve expected negative trades in the upcoming sessions, its targets begin at 128.90.

The EMA50 forms continuous negative pressure against the price, accompanied by witnessing clear negative signals through stochastic, which reinforces the expectations of continuing the bearish trend for today.

On the other hand, we should note that breaching 131.65 will stop the suggested negative scenario and lead the price to achieve additional gains that reach 133.30.

The expected trading range for today is between 129.70 support and 131.50 resistance

The expected trend for today: Bearish