The USDJPY returns to the bearish track – Analysis - 19-01-2023

The USDJPY pair couldn’t manage to hold for long time out of the main bearish channel, to trade with strong negativity yesterday and settles below 128.90 again, which push the price back to the main bearish trend and head towards achieving negative targets that start at 127.10 and extend to 126.35.

The EMA50 forms negative pressure against the price to support the continuation of the suggested negative scenario, which will remain valid conditioned by the price stability below 128.90.

The expected trading range for today is between 127.10 support and 129.00 resistance

The expected trend for today: Bearish