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
Forex and Currency News
Forex
Dollar tumbles to two-week lows ahead of US growth data
Dollar fell in European trade on Thursday against a basket of major rivals, resuming losses and ...
Forex
Euro scales 16-year peak against yen
Euro rallied in Asian trade on Thursday against the yen, extending gains for the fifth straight ...
Forex
Euro parks at two-week high amid positive sentiment
Euro rose in European trade on Wednesday, widening gains for the fourth straight session and ...
Forex Technical Analysis
Forex
The NZDUSD price forecast update 25-04-2024
NZDUSD Price Analysis Expected Scenario The NZDUSD price shows new positive trades now, ...
Forex
The AUDUSD price forecast update 25-04-2024
AUDUSD Price Analysis Expected Scenario The AUDUSD price resumes its positive trading ...
Forex
The GBPUSD forecast update 25-04-2024
GBPUSD Price Analysis Expected Scenario The GBPUSD price rallies upwards strongly to ...