The USDJPY reaches the negative target – Analysis - 13-03-2023

The USDJPY pair continued to decline strongly to reach the thresholds of the negative target mentioned in our last technical update at 133.30, starting today with additional negativity to support the chances of continuing the bearish bias in the upcoming sessions, noting that breaking the mentioned level will extend the bearish wave to reach 131.75 areas as a next main station.

Note that the continuation of the bearish wave depends on the price stability below 135.40, as breaching it will push the price to recover and head towards achieving gains that start by testing 137.70 areas.

The expected trading range for today is between 133.00 support and 134.90 resistance

The expected trend for today: Bearish