The USDJPY breaches the resistance – Analysis - 04-02-2022
The USDJPY pair provided positive trades yesterday to breach 114.65 and settles above it, to hint heading to recover again, but we notice that stochastic shows clear negative signals now, which might press on the price to decline and return to the correctional bearish track again.
Therefore, the contradiction between the technical factors makes us prefer to stay aside until the price confirms its situation according to 114.65, noting that consolidating above it will push the price to 115.50 followed by 116.35 levels as initial positive stations, while breaking it will press on the price to decline towards 113.60 mainly.
The expected trading range for today is between 114.10 support and 115.50 resistance
The expected trend for today: Neutral
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