The USDJPY faces solid resistance – Analysis - 09-03-2023

Economies.com
2023-03-09 04:29AM UTC

The USDJPY pair shows some bearish bias to head towards potential test to the bullish channel’s support line, as it finds difficulty to surpass the key resistance 137.70, and the EMA50 meets the mentioned support to add more strength to it, to suggest the continuation of the bullish trend for the upcoming period, waiting to breach the mentioned resistance to rally towards 139.25 as a next main target.

 

Stochastic attempts to overlap positively to support the continuation of the positive scenario, noting that breaking 136.15 will stop he expected rise and press on the price to turn to decline.

The expected trading range for today is between 136.30 support and 138.00 resistance

The expected trend for today: Bullish

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