The USDJPY resumes the bullish track – Analysis - 05-06-2023
Economies.com
2023-06-05 04:04AM UTC
The USDJPY pair bounced upwards clearly after approaching the first waited target at 138.20, to breach 139.20 and settles above it, which hints stopping the bearish correction and head to resume the main bullish trend, and we suggest testing the recently recorded top at 140.90 as a next station, which breaching it represents the key to head towards 141.00 direct.
Therefore, we expect to witness more rise in the upcoming sessions, supported by moving above the EMA50, noting that breaking 139.20 will stop the expected positive scenario and push the price to return to the correctional bearish track again.
The expected trading range for today is between 139.50 support and 141.00 resistance
The expected trend for today: Bullish
Forex and Currency News
Forex
Yen moves in negative zone under supervision of Japanese authorities
2024-05-08 04:36AM UTC
Yen declined on Wednesday in Asian trade against a basket of major rivals, extending losses for the ...
Forex
Dollar regains footing ahead of important Fed remarks
2024-05-07 11:34AM UTC
Dollar rose in European trade on Tuesday against a basket of major rivals, holding ground above ...
Forex
Aussie is worst performing major currency after RBA's decision
2024-05-07 08:01AM UTC
The Australian dollar fell in European trade on Tuesday against a basket of major rivals, moving ...
Forex Technical Analysis
Forex
The NZDUSD price forecast update 08-05-2024
2024-05-08 09:36AM UTC
NZDUSD Price Analysis Expected Scenario The NZDUSD price presses on the key support ...
Forex
The AUDUSD price forecast update 08-05-2024
2024-05-08 09:36AM UTC
AUDUSD Price Analysis Expected Scenario The AUDUSD price achieved initial break to ...
Forex
The GBPUSD forecast update 08-05-2024
2024-05-08 09:36AM UTC
GBPUSD Price Analysis Expected Scenario The GBPUSD price achieved initial break to ...