The USDJPY breaks the support – Analysis - 16-03-2023

The USDJPY pair faced clear negative pressure to break 133.30 and settles below it by today’s open, to head towards expected turn to decline, on its way to achieve negative targets that start at 131.60 and extend to 130.50.

The EMA50 forms negative pressure against the price to support the continuation of the expected bearish trend, while stochastic positivity might cause some sideways fluctuation before resuming the decline.

Note that breaching 133.30 and holding above it will reactivate the positive scenario and push the price towards 135.40 initially.

The expected trading range for today is between 131.90 support and 133.50 resistance

The expected trend for today: Bearish