The USDJPY suffers strong losses – Analysis - 13-01-2023

The USDJPY pair declined sharply yesterday to surpass our waited targets and reach the critical support line to the short term and medium term trades at 128.90, trading within main bearish channel that supports the chances of breaking this level to open the way to continue the decline and achieve additional negative targets that reach 126.95.

Therefore, the bearish trend scenario will remain dominant in the upcoming sessions, taking into consideration that failing to break 128.90 will lead the price to start recovery attempts and head towards 130.80 initially.

The expected trading range for today is between 128.00 support and 129.90 resistance

The expected trend for today: Bearish