The USDJPY price within positive pattern – Forecast today - 26-03-2024

Economies.com
2024-03-26 02:15AM UTC

USDJPY Price Analysis

  • The USDJPY price's recent trades are confined within a bullish pennant pattern visible on the chart.
  • Breaking the pattern's resistance at 151.60 will provide positive momentum, leading to a resumption of the main bullish trend.
  • This breach will open the way for the price to achieve new gains, surpassing the recently recorded high at 151.81 and targeting 153.00 as the next positive station.
  • Positive trades in the upcoming sessions are expected, supported by the EMA50.
  • Breaking below 151.10 will halt the expected rise and may lead to a bearish correction on the intraday basis.

Expected Trading Range for Today:

  • Support: 150.70
  • Resistance: 152.30

Trend Forecast: Bullish

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