The USDJPY loses momentum – Analysis - 27-03-2023

The USDJPY pair provided additional negative trades to test 130.00 barrier, which supports the continuation of the expected bearish trend on the intraday and short term basis, which targets 128.90 as a next main station.

The bearish channel continues to organize the suggested bearish wave, which gets continuous support by the EMA50, noticing that stochastic loses its positive momentum clearly to reinforce the expectations of the decline, noting that breaching 131.10 will open the way to achieve intraday gains and head to visit 132.05 and might extend to 133.30 before any new attempt to decline.

The expected trading range for today is between 129.70 support and 131.50 resistance

The expected trend for today: Bearish