The USDJPY loses momentum – Analysis - 07-03-2023
Economies.com
2023-03-07 04:03AM UTC
The USDJPY pair didn’t show any strong move since yesterday, to hover around the EMA50, thus, the bearish trend scenario will remain valid as it is without any change, depending on the price exit from the correctional bullish channel, waiting to visit 134.55 followed by 133.30 levels mainly.
Stochastic loses its positive momentum clearly to support the expectations to decline, noting that breaching 136.45 will push the price to rise again and test 137.70 level before determining the next destination clearly.
The expected trading range for today is between 135.00 support and 136.50 resistance
The expected trend for today: Bearish
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