The USDJPY pair’s recent trade are confined within bearish pennant pattern that appears on the chart, thus, breaking 138.10 will motivate the price to resume the expected bearish trend for the upcoming period, which its targets begin at 137.60 and extend to 136.50.
Therefore, we will continue to suggest the bearish trend on the intraday and short term basis unless breaching 139.45 and holding above it, noting that the EMA50 continues to support the suggested bearish wave.
The expected trading range for today is between 137.70 support and 139.40 resistance
The expected trend for today: Bearish