The USDJPY keeps achieving the negative targets – Analysis - 21-03-2023

The USDJPY pair traded with clear negativity yesterday to succeed reaching our second target at 130.50, and begins today with new decline to head towards continuing the bearish bias in the upcoming sessions, organized inside the bearish channel that has negative targets that extend to 128.90.

Therefore, the bearish trend scenario will remain dominant on the intraday and short term basis, supported by the EMA50 that pushes the price downwards, noting that breaching 131.95 will push the price to attempt to recover and achieve positive targets that reach 132.70 – 133.30 before any new attempt to decline.

The expected trading range for today is between 130.10 support and 132.00 resistance

The expected trend for today: Bearish