The USDJPY shows additional decline – Analysis - 22-02-2021
Economies.com
2021-02-22 05:17AM UTC
The USDJPY pair continued to decline to test the most important support at 105.20 and begins bouncing bullishly from there, as the EMA50 formed good support to protect the price from suffering more losses, while stochastic provides positive signals on the four hours’ time frame.
Therefore, these factors encourage us to suggest the bullish trend for the upcoming period, which targets testing 106.44 as a next main station, taking into consideration that breaking 105.20 will stop the expected rise and press on the price to turn to decline.
The expected trading range for today is between 105.20 support and 106.40 resistance
The expected trend for today: Bullish
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