The USDJPY breaks the support – Analysis - 06-03-2023

The USDJPY pair presses on the bullish channel’s support line to break it and settles below it, which puts the price under expected negative pressure in the upcoming sessions, on its way to visit 134.55 followed by 133.30 levels as main negative targets.

Therefore, we expect to witness bearish bias today, and breaking 135.60 will ease the mission of achieving the suggested targets, noting that stochastic current positivity might slow down the suggested bearish wave.

Holding below 136.45 represents key condition to continue the expected decline, as breaching it will push the price back to the correctional bullish track to start the positive targets by testing 137.70.

The expected trading range for today is between 134.60 support and 136.20 resistance

The expected trend for today: Bearish