The USDJPY within bearish track – Analysis - 23-05-2022
The USDJPY pair shows clear negative trades, moving within bearish channel that appears on the chart, which supports the chances of achieving bearish correction for the rise measured from 114.65 to 131.34, as it presses on 23.6% Fibonacci correction level now, paving the way to achieve more expected decline in the upcoming sessions.
Therefore, the bearish bias will be suggested on the intraday basis, and breaking 126.95 will ease the mission of achieving negative targets that start at 126.15 and extend to 125.00, taking into consideration that failing to break 126.95 will lead the price to attempt to recover and regain the main bullish trend again.
The expected trading range for today is between 126.60 support and 127.80 resistance
The expected trend for today: Bearish
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