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The USDJPY price achieves strong bearish correction – Forecast today - 30-04-2024
USDJPY Price Analysis
The USDJPY price bounced downwards strongly yesterday, experiencing a bearish correction from the rise that started from the 140.24 areas. It found support at the 23.6% Fibonacci correction level and bounced bullishly from there, hinting at a resumption of the main bullish wave, with a target of visiting 158.20 followed by 160.00 levels as the next main stations.
Therefore, we suggest the domination of the bullish trend in the upcoming sessions. Breaking 155.50 will push the price to achieve additional bearish correction, with the next target reaching 152.60.
Expected Trading Range
- Support: 156.00
- Resistance: 157.70
Trend Forecast
Bullish
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