The USDJPY under the negative pressure – Analysis - 12-05-2022
Economies.com
2022-05-12 04:09AM UTC
The USDJPY pair faced negative pressure yesterday to break 130.25 level, to hint the attempt to start new bearish correction, but it faces solid support at 129.60 that protects the price from suffering more losses.
Therefore, we prefer to stay aside until we get clearer signal for the next trend through breaching one of the above mentioned levels, noting that breaking the support will press on the price to achieve additional decline that targets 129.10 followed by 128.60 levels, while breaching the resistance represents the key to resume the main bullish trend that its first target located at 131.25.
The expected trading range for today is between 129.10 support and 130.45 resistance
The expected trend for today: Neutral
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