The USDJPY tests the resistance – Analysis - 20-01-2023

The USDJPY pair fluctuates positively to test the key resistance 128.90, accompanied by stochastic reach to the overbought areas, while the EMA50 forms negative pressure against the price, thus, we believe that the chances valid to resume the main bearish trend, which targets 127.10 followed by 126.35 levels as next main stations.

Therefore, the bearish bias will be suggested for today unless breaching 128.90 and holding with a daily close above it.

The expected trading range for today is between 127.60 support and 129.50 resistance

The expected trend for today: Bearish