The USDJPY surpasses the first target – Analysis - 20-11-2023

The USDJPY pair managed to achieve our first waited negative target at 149.40, opening today with additional decline to surpass this level and confirm the continuation of the bearish trend domination on the intraday basis, and the way is open to head towards our next target at 148.30.

Therefore, we are waiting for more expected decline in the upcoming sessions, and breaking the last level will push the price to achieve more bearish correction on the longer-term basis, which its targets extend to 146.17 areas, taking into consideration that breaching 150.05 will stop the current negative pressure and lead the price to recover again.

The expected trading range for today is between 148.10 support and 149.80 resistance

The expected trend for today: Bearish