The USDJPY is recovering – Analysis - 22-03-2023

The USDJPY pair provided positive trades to breach the bearish channel’s resistance and settles above it, to head towards achieving more intraday gains, as we expect to test the most important resistance at 133.30.

Therefore, the bullish bias will be suggested, but the expected rise is temporary, waiting to resume the main bearish trend, noting that breaching 133.30 will lead the price to continue the rise and achieve additional gains on the intraday and short term basis.

On the other hand, we should note that breaking 132.20 will stop the positive scenario and push the price to resume the main bearish wave again.

The expected trading range for today is between 131.80 support and 133.50 resistance

The expected trend for today: Bullish temporarily