The USDJPY price is recovering – Forecast today - 15-03-2024

The USDJPY price ended yesterday with clear positivity to settle at 148.37 level, starting today with additional rise to breach this level and attempt to hold above it, and by taking a deeper look at the chart, we find that the price completed forming double bottom pattern that we expect to lead the price to confirm stopping the bearish correction and head to resume the main bullish track again.

Therefore, the bullish trend will be expected for today, and the positive targets start at 149.25 followed by 149.90 as initial stations, taking into consideration that breaking 148.37 followed by 148.15 levels will stop the suggested rise and push the price to decline again.

The expected trading range for today is between 147.80 support and 149.30 resistance

Trend forecast: Bullish